Hut 8 (TSE:HUT) Hits New 12-Month High – What’s Next?

Hut 8 Corp. (TSE:HUT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as C$102.45 and last traded at C$98.73, with a volume of 1023624 shares traded. The stock had previously closed at C$96.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HC Wainwright raised Hut 8 to a “strong-buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research report on Tuesday, January 27th. Six investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Hut 8 Trading Down 0.4%

The stock has a 50 day simple moving average of C$73.74 and a 200-day simple moving average of C$68.73. The firm has a market capitalization of C$10.78 billion, a P/E ratio of -45.42 and a beta of 4.58. The company has a current ratio of 1.09, a quick ratio of 1.26 and a debt-to-equity ratio of 31.34.

About Hut 8

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.