Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. BTIG Research raised Hut 8 to a “strong-buy” rating in a research report on Monday, April 14th. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities raised shares of Hut 8 to a “strong-buy” rating in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a strong buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Hut 8 Trading Up 4.4 %

Hut 8 stock opened at C$17.02 on Monday. Hut 8 has a 52 week low of C$10.53 and a 52 week high of C$45.20. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The firm has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 4.16 and a beta of 3.45. The company has a 50 day moving average price of C$18.98 and a 200 day moving average price of C$26.84.

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.