DA Davidson upgraded shares of Hut 8 Mining (TSE:HUT – Get Rating) from a neutral rating to a buy rating in a report released on Thursday morning, Marketbeat reports.

Hut 8 Mining Stock Performance

Shares of HUT stock opened at C$2.30 on Thursday. The firm has a market cap of C$447.13 million and a price-to-earnings ratio of -9.43. The company has a debt-to-equity ratio of 9.78, a quick ratio of 2.63 and a current ratio of 10.61. Hut 8 Mining has a 52 week low of C$1.65 and a 52 week high of C$20.61. The firm's 50-day simple moving average is C$2.89 and its two-hundred day simple moving average is C$3.70.

Hut 8 Mining (TSE:HUT – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported C($0.14) EPS for the quarter, missing the consensus estimate of C$0.06 by C($0.20). The business had revenue of C$43.85 million for the quarter, compared to analyst estimates of C$52.55 million. During the same quarter last year, the company posted ($0.09) earnings per share. As a group, equities analysts forecast that Hut 8 Mining will post -0.24 earnings per share for the current year.

About Hut 8 Mining

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

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