Hut 8 Corp. (TSE:HUT) Receives Average Rating of "Strong Buy" from Analysts

Key Points

• Analysts give Hut 8 an average rating of "Strong Buy" from seven firms, with six firms at strong buy and one at buy.
• Shares opened at C$96.21 (up 5.2%) and are trading near a 52-week high of C$98.20; the company has a market cap of C$10.67 billion, a negative P/E (-44.96) and a beta of 4.58.
• Hut 8 is a large North American digital-asset miner based in Alberta that holds more self-mined bitcoin than any crypto miner or publicly traded company and follows a mining-and-hold strategy with diversified revenue initiatives.

Hut 8 Corp. (TSE:HUT - Get Free Report) has earned an average rating of "Strong Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a buy recommendation and six have given a strong buy recommendation to the company.

Several research firms recently issued reports on HUT. HC Wainwright upgraded Hut 8 to a "strong-buy" rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upgraded Hut 8 to a "moderate buy" rating in a report on Tuesday, January 27th.

Hut 8 Stock Up 5.2%

Shares of TSE HUT opened at C$96.21 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.09 and a debt-to-equity ratio of 31.34. The business's 50 day moving average is C$72.18 and its two-hundred day moving average is C$67.96. Hut 8 has a 52-week low of C$14.69 and a 52-week high of C$98.20. The firm has a market cap of C$10.67 billion, a price-to-earnings ratio of -44.96 and a beta of 4.58.

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.

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