Hut 8 (TSE:HUT) Shares Down 3.9% – Here’s Why

Hut 8 Corp. (TSE:HUT)’s share price was down 3.9% on Tuesday . The company traded as low as C$38.10 and last traded at C$38.50. Approximately 183,178 shares were traded during trading, a decline of 86% from the average daily volume of 1,321,329 shares. The stock had previously closed at C$40.07.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HUT. Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald raised Hut 8 to a “strong-buy” rating in a research report on Monday, December 9th.

Hut 8 Stock Down 8.7 %

The company has a market capitalization of C$3.42 billion, a PE ratio of -34.18 and a beta of 3.45. The company has a debt-to-equity ratio of 55.19, a quick ratio of 1.26 and a current ratio of 1.67. The stock’s 50 day moving average is C$35.80 and its 200 day moving average is C$24.77.

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.