Hut 8 (TSE:HUT) Upgraded at Rothschild & Co Redburn

Hut 8 (TSE:HUT) was upgraded by equities research analysts at Rothschild & Co Redburn to a “hold” rating in a research report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company raised Hut 8 to a “strong-buy” rating in a research report on Thursday, September 17th. Freedom Capital raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Maxim Group upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Freedom Broker upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Six research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Hut 8 Trading Up 4.9%

Hut 8 stock opened at C$145.10 on Monday. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65. The business’s fifty day simple moving average is C$129.79 and its two-hundred day simple moving average is C$124.57. Hut 8 has a 12 month low of C$44.82 and a 12 month high of C$194.28. The company has a market capitalization of C$16.34 billion, a price-to-earnings ratio of -26.87 and a beta of 4.58.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Hut 8 stock. Dockside LLC purchased a new stake in shares of Hut 8 Corp. (TSE:HUT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors own 39.04% 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.