Hut 8 (TSE:HUT) Stock Price Up 9% – Still a Buy?

Hut 8 Corp. (TSE:HUT)’s stock price was up 9% during trading on Tuesday . The stock traded as high as C$33.95 and last traded at C$33.92. Approximately 195,134 shares changed hands during mid-day 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 raised shares of Hut 8 to a “strong-buy” rating in a research note on Monday, December 9th.

Hut 8 Stock Performance

The firm has a market cap of C$3.24 billion, a P/E ratio of -32.41 and a beta of 3.45. The company has a debt-to-equity ratio of 55.19, a quick ratio of 1.26 and a current ratio of 1.67. The business’s 50-day simple moving average is C$31.05 and its 200 day simple moving average is C$22.37.

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.