Hut 8 (TSE:HUT) Stock Rating Upgraded by Freedom Capital

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

Several other research firms have also commented on HUT. Jefferies Financial Group raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th. Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Hut 8 Stock Performance

Shares of TSE HUT opened at C$122.49 on Tuesday. The stock has a market cap of C$13.79 billion, a price-to-earnings ratio of -22.68 and a beta of 4.58. The stock’s 50-day moving average is C$145.79 and its 200 day moving average is C$116.83. 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 has a 1-year low of C$29.25 and a 1-year high of C$194.28.

Institutional Trading of Hut 8

A hedge fund recently bought a new stake in Hut 8 stock. Dockside LLC acquired a new stake in shares of Hut 8 Corp. (TSE:HUT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. 38.88% of the stock is currently owned by institutional investors.

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.