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

Hut 8 Corp. (TSE:HUT) has been assigned an average recommendation of “Strong Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, one has given a buy recommendation and seven have assigned a strong buy recommendation to the company.

A number of research analysts recently commented on the stock. Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Freedom Broker upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Wells Fargo & Company raised shares of Hut 8 to a “strong-buy” rating in a research note on Thursday, September 17th. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, UBS Group raised shares of Hut 8 to a “strong-buy” rating in a research note on Wednesday.

Hut 8 Trading Down 4.8%

TSE:HUT opened at C$137.00 on Friday. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.86 and a quick ratio of 1.25. Hut 8 has a fifty-two week low of C$44.82 and a fifty-two week high of C$194.28. The stock’s 50-day moving average is C$130.50 and its two-hundred day moving average is C$126.26. The stock has a market cap of C$15.43 billion, a PE ratio of -25.37 and a beta of 4.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new position in Hut 8 Corp. (TSE:HUT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,252 shares of the company’s stock, valued at approximately $722,000. Hedge funds and other institutional investors own 39.04% 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.