Hut 8 (TSE:HUT) Rating Increased to Moderate Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Hut 8 (TSE:HUT) to a moderate buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Hut 8 Price Performance

Shares of TSE HUT opened at C$87.57 on Tuesday. The business has a 50-day moving average of C$68.11 and a 200-day moving average of C$53.91. Hut 8 has a fifty-two week low of C$14.28 and a fifty-two week high of C$89.34. The company has a debt-to-equity ratio of 55.87, a current ratio of 1.68 and a quick ratio of 1.26. The stock has a market capitalization of C$9.46 billion, a price-to-earnings ratio of 46.83 and a beta of 4.58.

Hut 8 Company Profile

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.