Hut 8 (TSE:HUT) Sets New 1-Year High – Should You Buy?

Hut 8 Corp. (TSE:HUT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as C$159.00 and last traded at C$156.00, with a volume of 68967 shares trading hands. The stock had previously closed at C$151.07.

Analyst Ratings Changes

A number of brokerages recently commented on HUT. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research note on Tuesday, January 27th. HC Wainwright upgraded Hut 8 to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Jefferies Financial Group upgraded Hut 8 to a “strong-buy” rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 presently has a consensus rating of “Strong Buy”.

Hut 8 Price Performance

The company has a market capitalization of C$17.73 billion, a price-to-earnings ratio of -55.85 and a beta of 4.58. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.26 and a current ratio of 0.86. The company has a 50-day moving average price of C$100.59 and a 200-day moving average price of C$79.74.

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.