Hut 8 Corp. (TSE:HUT) Receives Consensus Rating of “Strong Buy” from Brokerages

Hut 8 Corp. (TSE:HUT) has been assigned an average rating of “Strong Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a buy rating and six have given a strong buy rating to the company.

A number of equities research analysts have commented on HUT shares. Wells Fargo & Company raised Hut 8 to a “strong-buy” rating in a research note on Thursday. Freedom Capital raised Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Finally, Maxim Group raised shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new position in shares of Hut 8 Corp. (TSE:HUT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,252 shares of the company’s stock, valued at approximately $722,000. 38.92% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of HUT opened at C$138.29 on Friday. The company has a debt-to-equity ratio of 30.65, a current ratio of 0.86 and a quick ratio of 1.25. The stock has a 50-day moving average of C$129.70 and a 200-day moving average of C$123.64. The company has a market cap of C$15.57 billion, a PE ratio of -25.61 and a beta of 4.58. Hut 8 has a one year low of C$44.82 and a one year high of C$194.28.

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.