Hut 8 (TSE:HUT) Shares Down 4.6%

Hut 8 Corp. (TSE:HUT)’s stock price fell 4.6% on Tuesday . The stock traded as low as C$15.54 and last traded at C$15.57. 49,676 shares changed hands during trading, a decline of 96% from the average session volume of 1,392,273 shares. The stock had previously closed at C$16.32.

Wall Street Analyst Weigh In

A number of research firms recently commented on HUT. Craig Hallum upgraded shares of Hut 8 from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 16th. HC Wainwright raised Hut 8 from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 14th.

Hut 8 Price Performance

The stock has a 50-day moving average of C$19.80 and a two-hundred day moving average of C$14.89. The firm has a market cap of C$1.27 billion, a price-to-earnings ratio of -13.00 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., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.