Hut 8 (TSE:HUT) Trading 9% Higher – Time to Buy?

Hut 8 Corp. (TSE:HUT)’s stock price rose 9% on Tuesday . The company traded as high as C$33.95 and last traded at C$33.92. Approximately 195,134 shares traded hands during trading, a decline of 87% from the average daily volume of 1,510,091 shares. The stock had previously closed at C$31.11.

Wall Street Analysts Forecast Growth

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

Hut 8 Stock Up 12.7 %

The company has a market capitalization of C$3.28 billion, a PE ratio of -32.78 and a beta of 3.45. The business has a 50-day moving average of C$31.78 and a 200 day moving average of C$22.66. The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26.

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.