Hut 8 (TSE:HUT) Sets New 1-Year High – Here’s Why

Shares of Hut 8 Corp. (TSE:HUT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$44.38 and last traded at C$44.27, with a volume of 1107552 shares. The stock had previously closed at C$38.81.

Analyst Ratings Changes

Separately, HC Wainwright raised Hut 8 from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 14th.

Hut 8 Stock Up 10.3 %

The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26. The firm has a 50-day simple moving average of C$26.36 and a two-hundred day simple moving average of C$20.40. The company has a market cap of C$4.00 billion, a PE ratio of -40.01 and a beta of 3.45.

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.