Hut 8 Mining Corp (HUT – Research Report), the Financial sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. The Financial 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 8.8% and a 48.4% success rate. Sutton covers the Technology sector, focusing on stocks such as Transact Technologies, Par Technology, and Desktop Metal.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hut 8 Mining Corp with a C$3.57 average price target, implying a 37.3% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Hold rating on the stock with a $2.25 price target.
The company has a one-year high of C$5.98 and a one-year low of C$1.08. Currently, Hut 8 Mining Corp has an average volume of 2.56M.
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 Tuesday at C$2.48.
Read More on TSE:HUT:
- Hut 8 Reports Operating and Financial Results for Q3 2023
- Is HUT a Buy, Before Earnings?
- Hut 8 Announces Effectiveness of Registration Statement on Form S-4 in Connection with Merger with US Bitcoin Corp
- Unusually active option classes on open November 9th
- Hut 8 Provides Update on Business Combination with USBTC
