Hut 8 (TSE:HUT) Stock Price Down 5% – Should You Sell?

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

Analyst Upgrades and Downgrades

HUT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Hut 8 to a “moderate buy” rating in a research report on Wednesday. Cantor Fitzgerald upgraded shares of Hut 8 to a “strong-buy” rating in a report on Monday, December 9th.

Hut 8 Stock Up 2.4 %

The business’s 50 day moving average is C$34.53 and its 200 day moving average is C$24.02. 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 company has a market cap of C$3.16 billion, a P/E ratio of -31.58 and a beta of 3.45.

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.