Hut 8 (TSE:HUT) Sets New 1-Year High – Here’s What Happened

Hut 8 Corp. (TSE:HUT) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$44.38 and last traded at C$44.27, with a volume of 1107552 shares trading hands. The stock had previously closed at C$38.81.

Analyst Ratings Changes

Separately, HC Wainwright upgraded Hut 8 from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, August 14th.

Hut 8 Price Performance

The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 55.19. The company’s 50 day moving average price is C$25.85 and its 200 day moving average price is C$20.19. The company has a market cap of C$4.17 billion, a price-to-earnings ratio of -38.97 and a beta of 3.45.

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.