Hut 8 (TSE:HUT) Hits New 52-Week High – Should You Buy?

Hut 8 Corp. (TSE:HUT) shares hit a new 52-week high on Wednesday . The company traded as high as C$153.85 and last traded at C$149.52, with a volume of 508538 shares. The stock had previously closed at C$146.89.

Analyst Upgrades and Downgrades

HUT has been the subject of a number of recent research reports. HC Wainwright upgraded shares of Hut 8 to a “strong-buy” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upgraded shares of Hut 8 to a “moderate buy” rating in a report on Tuesday, January 27th. Three research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, Hut 8 has an average rating of “Strong Buy”.

Hut 8 Stock Up 0.9%

The stock’s fifty day moving average is C$87.20 and its 200 day moving average is C$75.06. The company has a current ratio of 0.86, a quick ratio of 1.26 and a debt-to-equity ratio of 30.65. The company has a market capitalization of C$16.69 billion, a P/E ratio of -52.57 and a beta of 4.58.

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.