Hut 8 (TSE:HUT) Trading Down 5% – Time to Sell?

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

Wall Street Analyst Weigh In

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

Hut 8 Stock Down 4.3 %

The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26. The company has a market capitalization of C$3.02 billion, a PE ratio of -30.22 and a beta of 3.45. The business’s 50 day simple moving average is C$34.08 and its 200 day simple moving average is C$23.89.

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.