Hut 8 stock had its Relative Strength (RS) Rating upgraded from 82 to 92 Wednesday.
This proprietary rating identifies technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating in the early stages of their moves.
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Is Hut 8 Stock A Buy?
Hut 8 stock has been trading in a consolidation. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the bitcoin mining stock manages to establish and enter a buying range in heavy trade.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 573%, compared to 0% in the prior report. Revenue increased from 32% to 231%.
Hut 8 stock holds the No. 5 rank among its peers in the Financial Services-Specialty industry group. Iris Energy is the top-ranked stock within the group.
