Hut 8 (TSE:HUT) Shares Down 5% – What’s Next?

Hut 8 Corp. (TSE:HUT)’s share price was down 5% on Thursday . The company traded as low as C$31.70 and last traded at C$32.10. Approximately 97,575 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,131,614 shares. The stock had previously closed at C$33.80.

Analyst Ratings Changes

HUT has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a research note on Wednesday. Cantor Fitzgerald raised Hut 8 to a “strong-buy” rating in a research note on Monday, December 9th.

Hut 8 Stock Up 2.4 %

The company’s 50 day moving average is C$34.53 and its 200 day moving average is C$24.02. The company has a market cap of C$3.16 billion, a PE ratio of -31.58 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.

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.