Hut 8 (TSE:HUT) Upgraded at Maxim Group

Hut 8 (TSE:HUT) was upgraded by equities researchers at Maxim Group to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Separately, Jefferies Financial Group raised Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Hut 8 Trading Down 8.8%

Shares of HUT stock opened at C$129.87 on Wednesday. Hut 8 has a 52-week low of C$25.68 and a 52-week high of C$194.28. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86. The company has a 50-day simple moving average of C$156.51 and a two-hundred day simple moving average of C$113.75. The company has a market capitalization of C$16.01 billion, a price-to-earnings ratio of -46.05 and a beta of 4.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC purchased a new stake in shares of Hut 8 Corp. (TSE:HUT) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 37.66% 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.