Hut 8 (TSE:HUT) Upgraded to Strong-Buy at Maxim Group

Maxim Group upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

Separately, Jefferies Financial Group raised Hut 8 to a “strong-buy” rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Hut 8 Trading Down 8.8%

HUT opened at C$129.87 on Wednesday. The firm’s fifty day simple moving average is C$156.51 and its 200 day simple moving average is C$113.75. The stock has a market capitalization of C$16.01 billion, a P/E ratio of -46.05 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$25.68 and a 12 month high of C$194.28.

Institutional Trading of Hut 8

A hedge fund recently bought a new position in Hut 8 stock. Dockside LLC acquired a new position in shares of Hut 8 Corp. (TSE:HUT) in 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. Hedge funds and other institutional investors own 37.66% of the company’s stock.

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.