Hut 8 (TSE:HUT) Shares Down 2.4% - Here's What Happened

Hut 8 Corp. (TSE:HUT - Get Free Report)'s stock price was down 2.4% on Friday . The company traded as low as C$26.50 and last traded at C$26.86. Approximately 149,224 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,470,132 shares. The stock had previously closed at C$27.51.Wall Street Analyst Weigh InAll In: Is MicroStrategy Overleveraging Its Future on Bitcoin? A number of equities analysts have commented on HUT shares. BTIG Research upgraded shares of Hut 8 to a "strong-buy" rating in a research report on Monday, April 14th. Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a research note on Monday, April 21st. Citizens Jmp upgraded Hut 8 to a "strong-buy" rating in a research report on Thursday, May 22nd. Roth Capital raised shares of Hut 8 to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Maxim Group upgraded shares of Hut 8 to a "strong-buy" rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a strong buy rating, According to MarketBeat.com, Hut 8 currently has an average rating of "Strong Buy".View Our Latest Analysis on Hut 8Hut 8 Trading Down 4.0%The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The business has a fifty day simple moving average of C$26.54 and a 200 day simple moving average of C$23.51. The stock has a market cap of C$1.76 billion, a price-to-earnings ratio of 6.46 and a beta of 3.45. About Hut 8 (Get Free Report)Hut 8 Mining Corp is North America's innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction.Featured ArticlesFive stocks we like better than Hut 8With Risk Tolerance, One Size Does Not Fit AllDraftKings Posts Record Quarter, Eyes ProfitabilityInvesting in Commodities: What Are They? How to Invest in ThemAmazon Takes an Equity Stake in IonQ—Any Upside Potential?How to Use the MarketBeat Stock Screener Wall Street Has Left Intel for Dead—Here's Why You Shouldn’tThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Hut 8 Right Now?Before you consider Hut 8, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hut 8 wasn't on the list.While Hut 8 currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here