Hut 8 (TSE:HUT) Raised to “Strong-Buy” at Rosenblatt Securities

Hut 8 (TSE:HUT) was upgraded by analysts at Rosenblatt Securities to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Cantor Fitzgerald upgraded Hut 8 to a “strong-buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, Hut 8 currently has an average rating of “Strong Buy”.

Hut 8 Trading Up 1.1 %

Shares of HUT opened at C$19.40 on Friday. The business’s 50-day moving average price is C$29.90 and its 200 day moving average price is C$26.42. The stock has a market capitalization of C$1.29 billion, a P/E ratio of 4.75 and a beta of 3.45. Hut 8 has a 1-year low of C$9.15 and a 1-year high of C$45.20. 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 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.