Riot Blockchain (RIOT) Shares Up 7.4% on Analyst Upgrade
Shares of Riot Blockchain Inc (NASDAQ:RIOT) shot up 7.4% on Monday after HC Wainwright raised their price target on the stock from $4.00 to $5.00. HC Wainwright currently has a buy rating on the stock. Riot Blockchain traded as high as $4.75 and last traded at $4.79. 16,276 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 2,024,915 shares. The stock had previously closed at $4.46.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc increased its holdings in shares of Riot Blockchain by 2.2% during the third quarter. Vanguard Group Inc now owns 490,146 shares of the technology company’s stock valued at $1,789,000 after purchasing an additional 10,493 shares during the period. BlackRock Inc. increased its stake in Riot Blockchain by 132.5% during the 3rd quarter. BlackRock Inc. now owns 370,794 shares of the technology company’s stock valued at $1,354,000 after buying an additional 211,344 shares during the period. Barclays PLC acquired a new position in Riot Blockchain during the 4th quarter valued at about $241,000. Geode Capital Management LLC raised its position in shares of Riot Blockchain by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 100,635 shares of the technology company’s stock worth $151,000 after buying an additional 15,873 shares in the last quarter. Finally, Deutsche Bank AG raised its position in shares of Riot Blockchain by 4,404,000.0% during the 4th quarter. Deutsche Bank AG now owns 44,041 shares of the technology company’s stock worth $66,000 after buying an additional 44,040 shares in the last quarter. Institutional investors own 8.40% of the company’s stock.
The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $65.84 million, a price-to-earnings ratio of -1.63 and a beta of 3.02.
Riot Blockchain Company Profile (NASDAQ:RIOT)
Riot Blockchain, Inc focuses on building, supporting, and operating blockchain technologies, primarily through its cryptocurrency mining operations and other developed businesses, as well as joint ventures, acquisitions, and targeted investments in the sector. Its primary focus is on Bitcoin and general blockchain technology.
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