B. Riley Upgrades Hut 8 (TSE:HUT) to Strong-Buy

Hut 8 (TSE:HUT) was upgraded by analysts at B. Riley to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. BTIG Research upgraded Hut 8 to a “strong-buy” rating in a research note on Monday, April 14th. Northland Capmk upgraded Hut 8 to a “strong-buy” rating in a research note on Monday, April 21st. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, Rosenblatt Securities upgraded Hut 8 to a “strong-buy” rating in a research note on Friday, March 7th. Eight analysts have rated the stock with a strong buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Hut 8 Stock Performance

HUT stock opened at C$22.55 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87. The business’s fifty day simple moving average is C$17.76 and its two-hundred day simple moving average is C$26.87. Hut 8 has a twelve month low of C$11.05 and a twelve month high of C$45.20. The firm has a market cap of C$1.50 billion, a price-to-earnings ratio of 5.52 and a beta of 3.45.

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.