Hut 8 (TSE:HUT) Stock Rating Raised to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

A number of other equities research analysts have also weighed in on HUT. Rothschild & Co Redburn upgraded shares of Hut 8 to a “hold” rating in a research note on Monday, September 21st. Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Freedom Capital raised shares of 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 report on Tuesday, August 18th. Finally, UBS Group upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Wednesday, September 23rd. Eight investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Hut 8 Stock Performance

Shares of HUT stock opened at C$113.06 on Wednesday. The stock has a fifty day moving average of C$126.47 and a 200 day moving average of C$130.37. The firm has a market capitalization of C$12.73 billion, a price-to-earnings ratio of -20.94 and a beta of 4.58. The company has a quick ratio of 1.25, a current ratio of 0.86 and a debt-to-equity ratio of 30.65. Hut 8 has a 52 week low of C$44.82 and a 52 week high of C$194.28.

Hedge Funds Weigh In On Hut 8

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC acquired a new position in Hut 8 Corp. (TSE:HUT) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 39.85% 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.