Hut 8 Corp. (TSE:HUT) Given Average Recommendation of “Strong Buy” by Analysts

Hut 8 Corp. (TSE:HUT) has been assigned an average recommendation of “Strong Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a buy rating and five have assigned a strong buy rating to the company.

A number of equities analysts recently weighed in on the company. Maxim Group raised Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Freedom Broker raised Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Freedom Capital upgraded Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hut 8 stock. Dockside LLC purchased a new stake in Hut 8 Corp. (TSE:HUT) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,252 shares of the company’s stock, valued at approximately $722,000. Hedge funds and other institutional investors own 39.85% of the company’s stock.

Hut 8 Trading Down 1.4%

Shares of Hut 8 stock opened at C$109.03 on Tuesday. The firm has a 50-day simple moving average of C$137.89 and a two-hundred day simple moving average of C$118.81. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86. Hut 8 has a fifty-two week low of C$33.50 and a fifty-two week high of C$194.28. The company has a market cap of C$12.28 billion, a P/E ratio of -20.19 and a beta of 4.58.

About Hut 8

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.