Hut 8 (TSE:HUT) Shares Down 9.2% – Should You Sell?

Hut 8 Corp. (TSE:HUT)’s stock price was down 9.2% during trading on Thursday . The company traded as low as C$19.24 and last traded at C$19.44. Approximately 1,125,640 shares were traded during trading, a decline of 22% from the average daily volume of 1,437,021 shares. The stock had previously closed at C$21.41.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald raised shares of Hut 8 to a “strong-buy” rating in a research report on Monday, December 9th.

Hut 8 Stock Performance

The stock’s 50 day moving average price is C$30.47 and its 200 day moving average price is C$26.45. The company has a market capitalization of C$1.28 billion, a P/E ratio of 4.69 and a beta of 3.45. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68.

About Hut 8

Hut 8 Mining Corp is North America’s innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin’s market direction.