Hut 8 Corp. (TSE:HUT) Receives Average Recommendation of “Strong Buy” from Analysts

Hut 8 Corp. (TSE:HUT) has earned a consensus recommendation of “Strong Buy” from the seven analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a buy recommendation and six have issued a strong buy recommendation on the company.

HUT has been the subject of several recent research reports. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Freedom Capital upgraded Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Thursday.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at C$138.29 on Friday. Hut 8 has a 52 week low of C$44.82 and a 52 week high of C$194.28. The company has a quick ratio of 1.25, a current ratio of 0.86 and a debt-to-equity ratio of 30.65. The business has a 50 day moving average price of C$129.70 and a 200-day moving average price of C$123.64. The company has a market cap of C$15.57 billion, a PE ratio of -25.61 and a beta of 4.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC acquired a new position in Hut 8 Corp. (TSE:HUT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 38.92% of the company’s stock.

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.