Hut 8 Corp. (TSE:HUT) Receives Consensus Recommendation of “Strong Buy” from Analysts

Hut 8 Corp. (TSE:HUT) has been given an average recommendation of “Strong Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a buy rating and five have issued a strong buy rating on the company.

Several analysts recently weighed in on HUT shares. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Freedom Broker upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group raised shares of Hut 8 to a “strong-buy” rating in a research report on Thursday, May 14th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new position in shares of Hut 8 Corp. (TSE:HUT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,252 shares of the company’s stock, valued at approximately $722,000. 38.30% of the stock is owned by institutional investors.

Hut 8 Price Performance

TSE HUT opened at C$110.20 on Tuesday. The firm’s 50 day moving average price is C$143.54 and its 200-day moving average price is C$117.28. The company has a market cap of C$12.41 billion, a PE ratio of -20.41 and a beta of 4.58. Hut 8 has a 52-week low of C$30.27 and a 52-week high of C$194.28. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86.

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.