Hut 8 (TSE:HUT) Upgraded at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of Hut 8 (TSE:HUT) to a hold rating in a research note published on Monday morning,Zacks reports.

Several other analysts also recently commented on HUT. Freedom Capital raised Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Wells Fargo & Company raised Hut 8 to a “strong-buy” rating in a research report on Thursday, September 17th. Finally, Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Six equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Hut 8 presently has an average rating of “Strong Buy”.

Hut 8 Stock Performance

Shares of HUT stock opened at C$144.53 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65. The firm has a fifty day simple moving average of C$130.03 and a two-hundred day simple moving average of C$125.63. Hut 8 has a 12 month low of C$44.82 and a 12 month high of C$194.28. The firm has a market capitalization of C$16.27 billion, a PE ratio of -26.76 and a beta of 4.58.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new stake in shares of Hut 8 Corp. (TSE:HUT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,252 shares of the company’s stock, valued at approximately $722,000. 39.04% of the stock is owned by institutional investors.

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.