Roth Capital Upgrades Hut 8 (TSE:HUT) to Strong-Buy

Hut 8 (TSE:HUT) was upgraded by Roth Capital to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

HUT has been the topic of a number of other research reports. UBS Group upgraded shares of Hut 8 to a “strong-buy” rating in a report on Wednesday, September 23rd. Rothschild & Co Redburn upgraded shares of Hut 8 to a “hold” rating in a report on Monday, September 21st. 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 research note on Tuesday, August 18th. Finally, Maxim Group raised Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Hut 8 presently has a consensus rating of “Strong Buy”.

Hut 8 Stock Performance

Shares of HUT stock opened at C$113.06 on Wednesday. The company has a market capitalization of C$12.73 billion, a price-to-earnings ratio of -20.94 and a beta of 4.58. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86. Hut 8 has a one year low of C$44.82 and a one year high of C$194.28. The company’s 50-day moving average is C$126.47 and its 200 day moving average is C$130.37.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hut 8 stock. Dockside LLC acquired a new stake in shares of Hut 8 Corp. (TSE:HUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,252 shares of the company’s stock, valued at approximately $722,000. 39.85% of the stock is owned by hedge funds and other 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.