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

Hut 8 Corp. (TSE:HUT - Get Free Report) has been given an average rating of "Strong Buy" by the nine brokerages that are covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a strong buy recommendation.

Several brokerages have recently issued reports on HUT. B. Riley raised shares of Hut 8 to a "strong-buy" rating in a report on Tuesday, May 13th. BTIG Research raised shares of Hut 8 to a "strong-buy" rating in a report on Monday, April 14th. Maxim Group raised shares of Hut 8 to a "strong-buy" rating in a report on Thursday, May 1st. Roth Capital raised shares of Hut 8 to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Citizens Jmp raised shares of Hut 8 to a "strong-buy" rating in a report on Thursday, May 22nd.

Hut 8 Stock Performance

Shares of HUT traded down C$0.93 during midday trading on Thursday, hitting C$27.93. 1,217,633 shares of the stock traded hands, compared to its average volume of 1,486,993. Hut 8 has a 1-year low of C$11.86 and a 1-year high of C$45.20. The firm has a market capitalization of C$1.86 billion, a PE ratio of 6.83 and a beta of 3.45. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The business's 50 day moving average price is C$25.65 and its two-hundred day moving average price is C$23.94.

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.