Hut 8 (TSE:HUT) Shares Up 9% – Here’s What Happened

Hut 8 Corp. (TSE:HUT) shares traded up 9% during mid-day trading on Tuesday . The stock traded as high as C$33.95 and last traded at C$33.92. 195,134 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,510,091 shares. The stock had previously closed at C$31.11.

Wall Street Analyst Weigh In

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

Hut 8 Trading Up 11.5 %

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

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.