Hut 8 Corp. (TSE:HUT - Get Free Report) shares shot up 14.1% during mid-day trading on Wednesday . The stock traded as high as C$19.08 and last traded at C$19.07. 1,635,362 shares traded hands during trading, an increase of 12% from the average session volume of 1,456,522 shares. The stock had previously closed at C$16.72.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Cantor Fitzgerald upgraded shares of Hut 8 to a "strong-buy" rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised shares of Hut 8 to a "moderate buy" rating in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities raised Hut 8 to a "strong-buy" rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a strong buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy".
Check Out Our Latest Research Report on Hut 8
Hut 8 Stock Performance
The business has a 50 day moving average of C$23.03 and a 200 day moving average of C$26.98. The company has a market capitalization of C$1.08 billion, a P/E ratio of 3.96 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87.
About Hut 8
(
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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.
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