Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at BTIG Research

Hut 8 (TSE:HUT - Get Free Report) was upgraded by analysts at BTIG Research to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

HUT has been the topic of a number of other reports. Keefe, Bruyette & Woods raised shares of Hut 8 to a "moderate buy" rating in a research note on Wednesday, January 8th. Rosenblatt Securities upgraded shares of Hut 8 to a "strong-buy" rating in a research report on Friday, March 7th. Five research analysts have rated the stock with a strong buy rating, According to MarketBeat.com, the company has a consensus rating of "Strong Buy".

Hut 8 Price Performance

Shares of Hut 8 stock traded up C$0.13 during trading on Monday, reaching C$15.49. The company's stock had a trading volume of 1,054,980 shares, compared to its average volume of 1,490,290. The business has a 50 day moving average price of C$19.77 and a 200-day moving average price of C$26.85. The company has a market capitalization of C$1.03 billion, a P/E ratio of 3.79 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87. Hut 8 has a 12-month low of C$10.16 and a 12-month high of C$45.20.

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.