Hut 8 (TSE:HUT) Shares Up 6.3% – Still a Buy?

Shares of Hut 8 Corp. (TSE:HUT) were up 6.3% during mid-day trading on Wednesday . The stock traded as high as C$36.60 and last traded at C$36.38. Approximately 316,404 shares changed hands during trading, a decline of 71% from the average daily volume of 1,095,442 shares. The stock had previously closed at C$34.23.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald raised Hut 8 to a “strong-buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a research report on Wednesday, January 8th.

Hut 8 Price Performance

The firm has a market cap of C$3.51 billion, a price-to-earnings ratio of -35.09 and a beta of 3.45. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 55.19. The company’s 50-day moving average is C$34.97 and its 200-day moving average is C$24.27.

About Hut 8

Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers.