Hut 8 (TSE:HUT) Shares Down 3.3% – Here’s What Happened

Hut 8 Corp. (TSE:HUT)’s stock price traded down 3.3% during mid-day trading on Tuesday . The stock traded as low as C$27.69 and last traded at C$28.06. 955,450 shares were traded during trading, a decline of 31% from the average session volume of 1,382,853 shares. The stock had previously closed at C$29.03.

Wall Street Analyst Weigh In

HUT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald upgraded Hut 8 to a “strong-buy” rating in a research report on Monday, December 9th.

Hut 8 Trading Down 3.3 %

The business’s 50-day simple moving average is C$33.57 and its 200-day simple moving average is C$25.93. The company has a market cap of C$1.87 billion, a PE ratio of 6.87 and a beta of 3.45. The company has a current ratio of 1.68, a quick ratio of 1.26 and a debt-to-equity ratio of 55.87.

Hut 8 Company Profile

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.