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

Shares of Hut 8 Corp. (TSE:HUT) fell 3.9% during trading on Tuesday . The company traded as low as C$38.10 and last traded at C$38.50. 183,178 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,321,329 shares. The stock had previously closed at C$40.07.

Analyst Upgrades and Downgrades

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

Hut 8 Trading Down 8.7 %

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 has a market cap of C$3.42 billion, a P/E ratio of -34.18 and a beta of 3.45. The stock has a 50-day moving average price of C$35.80 and a 200-day moving average price of C$24.77.

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.