Citizens Jmp Upgrades Hut 8 (TSE:HUT) to Strong-Buy

Hut 8 (TSE:HUT) was upgraded by Citizens Jmp to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities raised shares of Hut 8 to a “strong-buy” rating in a research report on Friday, March 7th. B. Riley raised shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, May 13th. BTIG Research raised shares of Hut 8 to a “strong-buy” rating in a research note on Monday, April 14th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Thursday, May 1st. Finally, Northland Capmk raised Hut 8 to a “strong-buy” rating in a research report on Monday, April 21st. Eight research analysts have rated the stock with a strong buy rating, According to MarketBeat, Hut 8 has a consensus rating of “Strong Buy”.

Hut 8 Trading Down 3.6%

Shares of TSE HUT opened at C$22.85 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.26 and a debt-to-equity ratio of 55.87. Hut 8 has a one year low of C$11.65 and a one year high of C$45.20. The business has a 50-day moving average price of C$18.57 and a two-hundred day moving average price of C$26.87. The firm has a market capitalization of C$1.52 billion, a PE ratio of 5.59 and a beta of 3.45.

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.