Hut 8 Corp. (TSE:HUT) Given Consensus Recommendation of “Strong Buy” by Analysts

Hut 8 Corp. (TSE:HUT) has earned a consensus recommendation of “Strong Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a buy rating and seven have given a strong buy rating to the company.

Several brokerages have recently weighed in on HUT. HC Wainwright upgraded shares of Hut 8 to a “strong-buy” rating in a research note 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 Trading Down 5.4%

Shares of Hut 8 stock opened at C$65.16 on Friday. The company has a debt-to-equity ratio of 31.34, a current ratio of 1.09 and a quick ratio of 1.26. The stock has a market cap of C$7.23 billion, a P/E ratio of -30.45 and a beta of 4.58. Hut 8 has a 1-year low of C$14.28 and a 1-year high of C$89.34. The stock’s 50 day simple moving average is C$74.39 and its 200-day simple moving average is C$64.75.

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.