Hut 8 (TSE:HUT) Shares Down 9.9% – Here’s What Happened

Hut 8 Corp. (TSE:HUT)’s share price fell 9.9% during trading on Monday . The company traded as low as C$22.98 and last traded at C$22.98. 206,810 shares were traded during mid-day trading, a decline of 84% from the average session volume of 1,324,746 shares. The stock had previously closed at C$25.50.

Wall Street Analysts Forecast Growth

HUT has been the topic of several recent research reports. 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.

Hut 8 Trading Down 10.1 %

The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87. The company has a market capitalization of C$1.42 billion, a P/E ratio of 5.20 and a beta of 3.45. The firm’s 50-day moving average price is C$32.10 and its 200 day moving average price is C$26.23.

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.