Hut 8 (TSE:HUT) Shares Down 6.5%

Hut 8 Corp. (TSE:HUT)’s share price fell 6.5% during trading on Wednesday . The stock traded as low as C$12.30 and last traded at C$12.31. 1,358,527 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 1,434,276 shares. The stock had previously closed at C$13.17.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “sell” rating on shares of Hut 8 in a research report on Tuesday, February 6th.

Hut 8 Trading Down 0.5 %

The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 613.95. The firm’s 50-day simple moving average is C$11.76 and its 200 day simple moving average is C$10.05. The stock has a market capitalization of C$1.07 billion, a P/E ratio of -11.34 and a beta of 3.45.

Hut 8 Company Profile

Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers. The company was founded in 2017 and is based in Miami, Florida.