Hut 8 (TSE:HUT) Hits New 1-Year High – What’s Next?

Hut 8 Corp. (TSE:HUT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$153.85 and last traded at C$149.52, with a volume of 508538 shares. The stock had previously closed at C$146.89.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HUT shares. HC Wainwright raised shares of Hut 8 to a “strong-buy” rating in a report on Monday, February 2nd. Jefferies Financial Group raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Hut 8 Stock Performance

The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.26 and a current ratio of 0.86. The stock’s fifty day moving average is C$90.42 and its two-hundred day moving average is C$76.29. The firm has a market cap of C$15.88 billion, a price-to-earnings ratio of -50.00 and a beta of 4.58.

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.