Hut 8 (TSE:HUT) Sets New 1-Year High – Here’s Why

Hut 8 Corp. (TSE:HUT)’s share price reached a new 52-week high on Friday . The stock traded as high as C$44.38 and last traded at C$44.27, with a volume of 1107552 shares. The stock had previously closed at C$38.81.

Analyst Ratings Changes

Separately, HC Wainwright raised Hut 8 from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, August 14th.

Hut 8 Stock Performance

The firm has a market cap of C$4.00 billion, a PE ratio of -40.01 and a beta of 3.45. The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26. The stock has a 50-day moving average price of C$26.36 and a 200 day moving average price of C$20.40.

About Hut 8

Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers.