Hut 8 (TSE:HUT) Stock Rating Upgraded by Wells Fargo & Company

Hut 8 (TSE:HUT) was upgraded by Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities research analysts have also recently commented on the company. Freedom Capital raised Hut 8 to a “strong-buy” rating in a 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 Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Six research 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.com, the stock presently has a consensus rating of “Strong Buy”.

Hut 8 Stock Up 1.4%

Shares of TSE HUT opened at C$127.31 on Thursday. The stock has a market cap of C$14.33 billion, a PE ratio of -23.58 and a beta of 4.58. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65. Hut 8 has a 12-month low of C$44.82 and a 12-month high of C$194.28. The company has a 50-day moving average of C$129.82 and a 200 day moving average of C$123.54.

Institutional Investors Weigh In On Hut 8

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