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

Shares of Hut 8 Corp. (TSE:HUT) have earned a consensus rating of “Strong Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the company.

HUT has been the topic of a number of recent analyst reports. Freedom Capital upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Jefferies Financial Group raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th. Finally, Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th.

Hut 8 Stock Down 1.0%

TSE:HUT opened at C$110.20 on Tuesday. Hut 8 has a twelve month low of C$30.27 and a twelve month high of C$194.28. The stock has a fifty day simple moving average of C$143.54 and a 200-day simple moving average of C$117.28. The company has a market cap of C$12.41 billion, a price-to-earnings ratio of -20.41 and a beta of 4.58. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hut 8 stock. Dockside LLC bought a new stake in Hut 8 Corp. (TSE:HUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 38.30% 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.