Hut 8 (TSE:HUT) Shares Down 16.3% – Time to Sell?

Shares of Hut 8 Corp. (TSE:HUT) dropped 16.3% during trading on Thursday . The stock traded as low as C$136.00 and last traded at C$137.17. Approximately 345,901 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 942,369 shares. The stock had previously closed at C$163.82.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Strong Buy”.

Hut 8 Stock Down 16.3%

The business has a fifty day moving average of C$149.52 and a 200 day moving average of C$100.71. The company has a market capitalization of C$15.43 billion, a PE ratio of -48.60 and a beta of 4.58. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65.

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.