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

Hut 8 Corp. (TSE:HUT - Get Free Report) has been given a consensus recommendation of "Strong Buy" by the eight ratings firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a strong buy rating.

A number of analysts have weighed in on the company. B. Riley upgraded Hut 8 to a "strong-buy" rating in a report on Tuesday, May 13th. Maxim Group raised Hut 8 to a "strong-buy" rating in a research report on Thursday, May 1st. Rosenblatt Securities upgraded Hut 8 to a "strong-buy" rating in a research note on Friday, March 7th. BTIG Research raised shares of Hut 8 to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Northland Capmk raised shares of Hut 8 to a "strong-buy" rating in a research report on Monday, April 21st.

Hut 8 Stock Up 15.1%

TSE HUT traded up C$3.36 during trading on Wednesday, reaching C$25.67. 2,289,330 shares of the company's stock traded hands, compared to its average volume of 1,507,882. Hut 8 has a 12-month low of C$11.86 and a 12-month high of C$45.20. The company has a debt-to-equity ratio of 55.87, a current ratio of 1.68 and a quick ratio of 1.26. The firm has a market cap of C$1.71 billion, a price-to-earnings ratio of 6.28 and a beta of 3.45. The company's 50 day simple moving average is C$19.25 and its two-hundred day simple moving average is C$26.28.

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.