Hut 8 (TSE:HUT) Shares Down 5.7% - Should You Sell?

Hut 8 Corp. (TSE:HUT - Get Free Report)'s share price was down 5.7% during trading on Friday . The stock traded as low as C$32.86 and last traded at C$33.08. Approximately 125,063 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,507,151 shares. The stock had previously closed at C$35.07.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald upgraded Hut 8 to a "strong-buy" rating in a research report on Monday, December 9th.

Hut 8 Trading Down 8.2 %

The stock's 50-day moving average price is C$32.37 and its 200 day moving average price is C$22.82. 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 firm has a market capitalization of C$3.01 billion, a PE ratio of -30.10 and a beta of 3.45.

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.