Hut 8 (TSE:HUT) Reaches New 1-Year High – Time to Buy?

Hut 8 Corp. (TSE:HUT) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$149.50 and last traded at C$144.47, with a volume of 341213 shares traded. The stock had previously closed at C$109.47.

Wall Street Analyst Weigh In

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

Hut 8 Trading Down 2.5%

The company has a 50 day moving average price of C$83.25 and a 200 day moving average price of C$73.44. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.26 and a current ratio of 0.86. The firm has a market cap of C$15.14 billion, a price-to-earnings ratio of -62.85 and a beta of 4.58.

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.