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

Shares of Hut 8 Corp. (TSE:HUT) have been assigned an average rating of “Strong Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a buy rating and eight have given a strong buy rating to the company.

A number of analysts recently commented on the stock. HC Wainwright raised shares of Hut 8 to a “strong-buy” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a research report on Tuesday, January 27th.

Hut 8 Stock Down 2.1%

Hut 8 stock opened at C$73.60 on Monday. The company has a market capitalization of C$7.95 billion, a P/E ratio of 39.36 and a beta of 4.58. Hut 8 has a fifty-two week low of C$14.28 and a fifty-two week high of C$89.34. The stock has a 50-day simple moving average of C$73.53 and a 200-day simple moving average of C$59.50. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68.

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.