Freedom Capital Upgrades Hut 8 (TSE:HUT) to “Strong-Buy”

Hut 8 (TSE:HUT) was upgraded by research analysts at Freedom Capital to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on HUT. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Jefferies Financial Group upgraded Hut 8 to a “strong-buy” rating in a research note on Thursday, May 14th. Four investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Hut 8 Trading Up 7.8%

Shares of HUT stock opened at C$122.49 on Tuesday. Hut 8 has a 12-month low of C$29.25 and a 12-month high of C$194.28. The company has a quick ratio of 1.25, a current ratio of 0.86 and a debt-to-equity ratio of 30.65. The business has a 50-day moving average price of C$145.79 and a two-hundred day moving average price of C$116.83. The firm has a market cap of C$13.79 billion, a P/E ratio of -22.68 and a beta of 4.58.

Institutional Trading of Hut 8

A hedge fund recently bought a new stake in Hut 8 stock. Dockside LLC purchased a new position in Hut 8 Corp. (TSE:HUT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors own 38.88% of the company’s stock.

Hut 8 Company Profile

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.