Hut 8 (TSE:HUT) Shares Down 3.2% – Here’s What Happened

Hut 8 Corp. (TSE:HUT)’s stock price dropped 3.2% during trading on Monday . The stock traded as low as C$35.00 and last traded at C$35.08. Approximately 13,500 shares traded hands during trading, a decline of 99% from the average daily volume of 1,459,196 shares. The stock had previously closed at C$36.24.

Wall Street Analyst Weigh In

Separately, HC Wainwright upgraded shares of Hut 8 from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 14th.

Hut 8 Price Performance

The company has a market capitalization of C$3.29 billion, a P/E ratio of -30.75 and a beta of 3.45. The firm’s fifty day moving average is C$21.95 and its 200 day moving average is C$18.61. The company has a debt-to-equity ratio of 55.19, a quick ratio of 1.26 and a current ratio of 1.67.

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.