Hut 8 Corp. (TSE:HUT) Receives Average Rating of “Strong Buy” from Brokerages

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

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Hut 8 to a “moderate buy” rating in a research report on Tuesday, January 27th. HC Wainwright upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Monday, February 2nd.

Hut 8 Stock Down 6.6%

HUT opened at C$75.75 on Monday. The business has a 50 day moving average of C$75.05 and a 200-day moving average of C$60.32. The stock has a market capitalization of C$8.18 billion, a price-to-earnings ratio of 40.51 and a beta of 4.58. The company has a current ratio of 1.68, a quick ratio of 1.26 and a debt-to-equity ratio of 55.87. Hut 8 has a 1-year low of C$14.28 and a 1-year high of C$89.34.

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.