Hut 8 (TSE:HUT) Stock Price Down 3.9% – Should You Sell?

Hut 8 Corp. (TSE:HUT)’s stock price fell 3.9% during mid-day trading on Tuesday . The company traded as low as C$38.10 and last traded at C$38.50. 183,178 shares changed hands during 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 several analyst reports. Cantor Fitzgerald upgraded Hut 8 to a “strong-buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th.

Hut 8 Stock Down 0.6 %

The firm has a 50 day simple moving average of C$35.93 and a two-hundred day simple moving average of C$25.00. The company has a market capitalization of C$3.47 billion, a PE ratio of -34.76 and a beta of 3.45. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 55.19.

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.