Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Hut 8 (TSE:HUT) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

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

Hut 8 Stock Down 10.0 %

HUT opened at C$38.55 on Monday. Hut 8 has a one year low of C$8.35 and a one year high of C$45.20. 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 stock has a market capitalization of C$3.60 billion, a P/E ratio of -36.03 and a beta of 3.45. The business’s 50-day simple moving average is C$26.78 and its 200-day simple moving average is C$20.63.

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.