Hut 8 (TSE:HUT) Stock Price Down 5.7% – What’s Next?

Hut 8 Corp. (TSE:HUT)’s stock price traded down 5.7% during mid-day trading on Friday . The company traded as low as C$32.86 and last traded at C$33.08. 125,063 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,507,151 shares. The stock had previously closed at C$35.07.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Monday, December 9th.

Hut 8 Price Performance

The business has a fifty day moving average of C$32.13 and a 200-day moving average of C$22.75. 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 firm has a market cap of C$3.07 billion, a PE ratio of -30.73 and a beta of 3.45.

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.