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

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

Analysts Set New Price Targets

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

Hut 8 Trading Down 2.7 %

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 stock’s 50 day moving average price is C$21.95 and its 200-day moving average price is C$18.61. The stock has a market capitalization of C$3.29 billion, a P/E ratio of -30.75 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.