Hut 8 (TSE:HUT) Stock Price Down 9.9% – Time to Sell?

Hut 8 Corp. (TSE:HUT) shares fell 9.9% on Monday . The company traded as low as C$22.98 and last traded at C$22.98. 206,810 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,324,746 shares. The stock had previously closed at C$25.50.

Analysts Set New Price Targets

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

Hut 8 Trading Down 5.2 %

The company has a debt-to-equity ratio of 55.87, a current ratio of 1.68 and a quick ratio of 1.26. The business has a 50-day moving average of C$32.88 and a 200-day moving average of C$26.14. The firm has a market cap of C$1.61 billion, a price-to-earnings ratio of 5.92 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.