Hut 8 (TSE:HUT) Trading Down 0.1% - Time to Sell?

Key Points

• Hut 8 Corp. saw a minor stock price drop of 0.1%, trading at C$48.43 with a significant decrease in volume of approximately 51% compared to its daily average.
• Roth Capital recently upgraded Hut 8 to a "strong-buy" rating, contributing to a consensus rating of "Strong Buy" from eight analysts.
• The company is a leading digital asset miner with one of the highest installed capacity rates and holds more self-mined bitcoin than any other crypto miner globally.

Hut 8 Corp. (TSE:HUT - Get Free Report)'s stock price dropped 0.1% during mid-day trading on Tuesday . The company traded as low as C$47.20 and last traded at C$48.43. Approximately 741,144 shares changed hands during trading, a decline of 51% from the average daily volume of 1,522,478 shares. The stock had previously closed at C$48.50.

Analyst Upgrades and Downgrades

Separately, Roth Capital upgraded shares of Hut 8 to a "strong-buy" rating in a research note on Thursday, June 5th. Eight equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Hut 8 currently has a consensus rating of "Strong Buy".

Hut 8 Trading Down 0.1%

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 company has a market capitalization of C$5.11 billion, a PE ratio of 33.17 and a beta of 4.58. The stock has a fifty day moving average of C$36.76 and a 200 day moving average of C$26.96.

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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