Hut 8 (TSE:HUT) Upgraded by BTIG Research to Strong-Buy Rating

BTIG Research upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on HUT. Rosenblatt Securities upgraded shares of Hut 8 to a “strong-buy” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a strong buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Hut 8 Price Performance

TSE HUT opened at C$16.77 on Monday. The company has a 50 day moving average price of C$20.89 and a two-hundred day moving average price of C$26.95. Hut 8 has a 12-month low of C$9.62 and a 12-month high of C$45.20. The stock has a market capitalization of C$1.12 billion, a PE ratio of 4.10 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87.

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.