Today, an analyst has provided a rating update for Hut 8 Mining Corp (HUT – Research Report). The Technology company, Hut 8 Mining Corp (TSX: HUT) has just received a rating update from a Wall Street analyst.
According to TipRanks.com, Sutton is a 5-star analyst with an average return of 11.7% and a 50.3% success rate. Sutton covers the Technology sector, focusing on stocks such as Transact Technologies, Integral Ad Science, and Freightos Limited.
Hut 8 Mining Corp has an analyst consensus of Moderate Buy, with a price target consensus of C$3.74.
Hut 8 Mining Corp’s market cap is currently C$901.8M and has a P/E ratio of -3.98.
Hut 8 Mining Corp is a cryptocurrency mining company with industrial scale bitcoin mining operations in Canada. It provides investors with direct exposure to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. It is in the business of utilizing specialized equipment to solve complex computational problems to validate transactions on the bitcoin blockchain. The company receives bitcoin in return from the commercial activity of bitcoin mining.
The company’s shares closed last Thursday at C$4.08.
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