Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at Jefferies Financial Group

Hut 8 (TSE:HUT) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

HUT has been the topic of several other research reports. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a report on Tuesday, January 27th. HC Wainwright upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Hut 8 Trading Up 1.1%

Hut 8 stock opened at C$149.96 on Thursday. The firm’s 50-day moving average is C$90.42 and its 200-day moving average is C$76.29. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.26 and a current ratio of 0.86. Hut 8 has a 1 year low of C$20.35 and a 1 year high of C$153.85. The company has a market cap of C$16.88 billion, a P/E ratio of -53.18 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.