The Canadian small cap tech stocks we’ve identified have seen impressive returns this year
SmallCapPower | December 20, 2021: 2021 has been a strong year for technology and Bitcoin stocks. Today we’ve uncovered the top three best-performing Canadian small cap tech stocks of 2021.
*Share prices and other metrics as of December 10, 2021
Hut 8 Mining Corp. (TSX:HUT) – $11.15
Canadian Tech – Crypto Currency Mining
Hut 8 Mining is a Canada-based cryptocurrency miner. Hut 8 wants to become the world’s biggest cryptocurrency miner by using its BlockBox AC manufactured in partnership with Bitfury to mine Bitcoins using conventional datacenter infrastructure. Hut 8 currently operates a total of 73 BlockBox Data Centers, including 56 BlockBoxes at its facility in CMH, Alberta, with each BlockBox having 1.2 MW of capacity, representing an aggregate of 67.2 MW of maximum operating power capacity. Hut 8 has a total maximum operating power capacity of 85.9 MW and an average actual operating hash rate of over 640 Petahashes per second.
- Market Cap: $1,859.1M
- 7-Day Return: -6.5%
- 30-Day Return: -36.6%
- YTD-Return: +219.5%
- 7-Day Average Trading Volume: 2,756,250
- 30-Day Average Trading Volume: 2,691,710
Converge Technology Solutions Corp. (TSX:CTS) – $11.83
Canadian Tech – IT Solutions
Converge Technology Solutions is a national platform of regionally-focused Hybrid IT solution providers. The company’s regional sales and services organizations deliver advanced analytics, cloud, cybersecurity, and managed services offerings to its clients. The company supports these solutions with talent expertise and digital infrastructure offerings across all major IT partners in the marketplace.
- Market Cap: $2,536.3M
- 7-Day Return: +9.6%
- 30-Day Return: +10.3%
- YTD-Return: +138.0%
- 7-Day Average Trading Volume: 515,190
- 30-Day Average Trading Volume: 843,590
The Descartes Systems Group Inc. (TSX:DSG) – $98.70
Canadian Tech – SaaS
Descartes Systems provides a variety of software and services related to logistics, including route planning and telematics solutions for delivery fleets; customs and regulatory filing solutions; logistics messaging solutions; and software used by freight forwarders to run their operations. Descartes generally charges its customers on a subscription or per-transaction basis.
- Market Cap: $8,355.7M
- 7-Day Return: 0.3%
- 30-Day Return: -7.8%
- YTD-Return: +32.6%
- 7-Day Average Trading Volume: 184,080
- 30-Day Average Trading Volume: 130,870
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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