Hut 8 (TSE:HUT) Upgraded at UBS Group

Hut 8 (TSE:HUT) was upgraded by equities research analysts at UBS Group to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

HUT has been the topic of several other reports. Maxim Group raised Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. 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. Rothschild & Co Redburn raised Hut 8 to a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company raised Hut 8 to a “strong-buy” rating in a research note on Thursday, September 17th. Seven investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Buy”.

Hut 8 Stock Down 3.6%

Shares of HUT stock opened at C$144.53 on Wednesday. The stock has a market cap of C$16.27 billion, a P/E ratio of -26.76 and a beta of 4.58. Hut 8 has a 52 week low of C$44.82 and a 52 week high of C$194.28. The company has a quick ratio of 1.25, a current ratio of 0.86 and a debt-to-equity ratio of 30.65. The company’s fifty day simple moving average is C$130.03 and its two-hundred day simple moving average is C$125.63.

Institutional Trading of Hut 8

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC purchased a new stake in Hut 8 Corp. (TSE:HUT) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,252 shares of the company’s stock, valued at approximately $722,000. Hedge funds and other institutional investors own 39.04% of the company’s stock.

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.