Hut 8 (TSE:HUT) Raised to Strong-Buy at Wells Fargo & Company

Hut 8 (TSE:HUT) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

HUT has been the subject of a number of other reports. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Finally, Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Six equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Hut 8 Trading Up 1.4%

Shares of TSE HUT opened at C$127.31 on Thursday. Hut 8 has a twelve month low of C$44.82 and a twelve month high of C$194.28. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65. The stock has a fifty day simple moving average of C$129.82 and a 200-day simple moving average of C$123.54. The stock has a market capitalization of C$14.33 billion, a PE ratio of -23.58 and a beta of 4.58.

Institutional Trading of Hut 8

A hedge fund recently bought a new position in Hut 8 stock. Dockside LLC acquired a new stake in Hut 8 Corp. (TSE:HUT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,252 shares of the company’s stock, valued at approximately $722,000. 38.92% 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.