Hut 8 (TSE:HUT) Shares Down 13.3% - What's Next?

Hut 8 Corp. (TSE:HUT - Get Free Report) shares were down 13.3% during mid-day trading on Monday . The company traded as low as C$31.99 and last traded at C$32.41. Approximately 486,684 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,402,640 shares. The stock had previously closed at C$37.38.

Wall Street Analyst Weigh In

HUT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Hut 8 to a "moderate buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald upgraded shares of Hut 8 to a "strong-buy" rating in a report on Monday, December 9th.

Hut 8 Stock Down 24.0 %

The firm has a market capitalization of C$2.65 billion, a price-to-earnings ratio of -26.55 and a beta of 3.45. The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26. The stock has a fifty day moving average of C$36.05 and a two-hundred day moving average of C$25.20.

Hut 8 Company Profile

Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers.