Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other equities analysts have also commented on HUT. Northland Capmk raised shares of Hut 8 to a “strong-buy” rating in a research report on Monday, April 21st. Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 1st. Rosenblatt Securities raised Hut 8 to a “strong-buy” rating in a research report on Friday, March 7th. BTIG Research raised Hut 8 to a “strong-buy” rating in a report on Monday, April 14th. Finally, B. Riley raised shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Hut 8 Trading Up 4.5%

Hut 8 stock opened at C$23.71 on Thursday. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The stock has a market cap of C$1.58 billion, a PE ratio of 5.80 and a beta of 3.45. The stock has a 50-day moving average of C$18.46 and a two-hundred day moving average of C$26.87. Hut 8 has a one year low of C$11.65 and a one year high of C$45.20.

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.