Hut 8 Corp. (TSE:HUT) Stock Rated “Strong Buy” by Wall Street Brokerages

Hut 8 Corp. (TSE:HUT) has received an average recommendation of “Strong Buy” from the ten ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, one has given a buy rating and eight have assigned a strong buy rating to the company.

HUT has been the subject of a number of research reports. Roth Capital raised Hut 8 to a “strong-buy” rating in a report on Wednesday, October 7th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Rothschild & Co Redburn upgraded shares of Hut 8 to a “hold” rating in a report on Monday, September 21st. Wells Fargo & Company upgraded shares of Hut 8 to a “strong-buy” rating in a report on Thursday, September 17th. Finally, UBS Group raised shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, September 23rd.

Institutional Trading of Hut 8

A hedge fund recently bought a new position in Hut 8 stock. Dockside LLC acquired a new position in Hut 8 Corp. (TSE:HUT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 39.71% of the company’s stock.

Hut 8 Stock Down 0.7%

Hut 8 stock opened at C$119.09 on Wednesday. The business’s 50-day simple moving average is C$124.76 and its two-hundred day simple moving average is C$131.33. 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 market cap of C$14.68 billion, a PE ratio of -22.05 and a beta of 4.58. Hut 8 has a fifty-two week low of C$44.82 and a fifty-two week high of C$194.28.

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.