Hut 8 Corp. (TSE:HUT - Get Free Report) shares rose 11.6% during mid-day trading on Tuesday . The stock traded as high as C$16.51 and last traded at C$16.41. Approximately 2,036,571 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 1,491,310 shares. The stock had previously closed at C$14.71.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Hut 8 to a "moderate buy" rating in a research report on Wednesday, January 8th. BTIG Research upgraded Hut 8 to a "strong-buy" rating in a report on Monday, April 14th. Rosenblatt Securities raised Hut 8 to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a report on Monday. Six research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat.com, Hut 8 has a consensus rating of "Strong Buy".
View Our Latest Analysis on HUT
Hut 8 Stock Up 3.3 %
The firm's 50-day moving average price is C$18.76 and its 200-day moving average price is C$26.78. The company has a market cap of C$1.23 billion, a price-to-earnings ratio of 4.52 and a beta of 3.45. The company has a debt-to-equity ratio of 55.87, a current ratio of 1.68 and a quick ratio of 1.26.
Hut 8 Company Profile
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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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