Shares of Hut 8 Corp. (TSE:HUT – Get Free Report) have been given an average recommendation of “Strong Buy” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, one has assigned a buy rating and eight have issued a strong buy rating on the company.
A number of research analysts recently weighed in on HUT shares. UBS Group upgraded shares of Hut 8 to a “strong-buy” rating in a report on Wednesday, September 23rd. Freedom Broker raised Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Wells Fargo & Company upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Thursday, September 17th. Rothschild & Co Redburn raised shares of Hut 8 to a “hold” rating in a research report on Monday, September 21st. Finally, Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th.
Hut 8 Price Performance
Hut 8 stock opened at C$97.06 on Wednesday. The company has a market capitalization of C$10.93 billion, a price-to-earnings ratio of -17.97 and a beta of 4.58. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86. Hut 8 has a 1 year low of C$44.82 and a 1 year high of C$194.28. The company’s 50 day simple moving average is C$122.36 and its 200-day simple moving average is C$132.58.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in Hut 8 stock. Dockside LLC acquired a new stake in Hut 8 Corp. (TSE:HUT – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. 39.78% of the stock is currently owned by hedge funds and other institutional investors.
About Hut 8
Hut 8 Mining Corp is North America’s innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin’s market direction.
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