Hut 8 (TSE:HUT) Trading Down 12.5% - Should You Sell?

Key Points

• Hut 8 Corp.'s stock experienced a significant decline of 12.5%, trading as low as C$57.39, with a drastic drop in trading volume by 62% compared to its average daily volume.
• The company's market capitalization stands at C$5.48 billion, with a price-to-earnings ratio of 35.58 and a debt-to-equity ratio of 55.87.
• Hut 8 Mining Corp. is recognized as North America's leading digital asset miner, holding more self-mined Bitcoin than any other entity, showcasing a commitment to mining and holding Bitcoin.

Hut 8 Corp. (TSE:HUT - ) was down 12.5% during trading on Wednesday . The company traded as low as C$57.39 and last traded at C$57.57. Approximately 580,754 shares were traded during trading, a decline of 62% from the average daily volume of 1,532,689 shares. The stock had previously closed at C$65.79.

Hut 8 Stock Performance

The stock has a 50-day moving average price of C$47.23 and a 200 day moving average price of C$31.63. The company has a market cap of C$5.48 billion, a price-to-earnings ratio of 35.58 and a beta of 4.58. The company has a debt-to-equity ratio of 55.87, a current ratio of 1.68 and a quick ratio of 1.26.

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.

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