Hut 8 (TSE:HUT) Upgraded at B. Riley

B. Riley upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other research firms have also recently weighed in on HUT. Northland Capmk raised shares of Hut 8 to a “strong-buy” rating in a research note on Monday, April 21st. BTIG Research raised Hut 8 to a “strong-buy” rating in a report on Monday, April 14th. Rosenblatt Securities raised shares of Hut 8 to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research report on Thursday, May 1st. Eight research analysts have rated the stock with a strong buy rating, According to MarketBeat, Hut 8 currently has a consensus rating of “Strong Buy”.

Hut 8 Trading Down 3.6%

Shares of Hut 8 stock opened at C$21.74 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87. The company’s 50-day simple moving average is C$17.87 and its 200-day simple moving average is C$26.85. Hut 8 has a 52-week low of C$11.65 and a 52-week high of C$45.20. The firm has a market cap of C$1.45 billion, a price-to-earnings ratio of 5.32 and a beta of 3.45.

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.