Hut 8 (TSE:HUT) Stock Price Up 6.3% – Here’s What Happened

Shares of Hut 8 Corp. (TSE:HUT) traded up 6.3% on Wednesday . The stock traded as high as C$36.60 and last traded at C$36.38. 316,404 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,095,442 shares. The stock had previously closed at C$34.23.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald raised shares of Hut 8 to a “strong-buy” rating in a research note on Monday, December 9th.

Hut 8 Price Performance

The company has a market capitalization of C$3.57 billion, a price-to-earnings ratio of -35.78 and a beta of 3.45. The company has a 50-day moving average price of C$35.45 and a 200-day moving average price of C$24.49. The company has a debt-to-equity ratio of 55.19, a quick ratio of 1.26 and a current ratio of 1.67.

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.