Hut 8 (TSE:HUT) Shares Down 5.9% – What’s Next?

Hut 8 Corp. (TSE:HUT)’s share price fell 5.9% during mid-day trading on Thursday . The company traded as low as C$169.78 and last traded at C$172.35. 74,366 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,021,496 shares. The stock had previously closed at C$183.13.

Analysts Set New Price Targets

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

Hut 8 Stock Down 4.0%

The firm has a market capitalization of C$19.80 billion, a P/E ratio of -62.35 and a beta of 4.58. The firm’s 50 day moving average is C$115.19 and its two-hundred day moving average is C$85.27. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.86 and a quick ratio of 1.26.

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.