Riot Blockchain Inc (RIOT) Given Average Rating of “Strong Buy” by Analysts

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Shares of Riot Blockchain Inc (NASDAQ:RIOT) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus target price of $4.00 for the company and are forecasting that the company will post ($0.61) EPS for the current quarter, according to Zacks. Zacks has also given Riot Blockchain an industry rank of 187 out of 255 based on the ratings given to related companies.

RIOT has been the topic of a number of research reports. Zacks Investment Research cut shares of Riot Blockchain from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. HC Wainwright lowered their price objective on shares of Riot Blockchain from $10.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th.

A hedge fund recently raised its stake in Riot Blockchain stock. BlackRock Inc. grew its position in shares of Riot Blockchain Inc (NASDAQ:RIOT) by 29.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,450 shares of the technology company’s stock after purchasing an additional 35,954 shares during the period. BlackRock Inc. owned 1.17% of Riot Blockchain worth $1,011,000 at the end of the most recent quarter. 12.67% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ RIOT traded down $0.05 during trading hours on Tuesday, reaching $2.36. The company’s stock had a trading volume of 76,058 shares, compared to its average volume of 702,853. The stock has a market cap of $35.37 million, a price-to-earnings ratio of -0.87 and a beta of 2.38. Riot Blockchain has a fifty-two week low of $2.15 and a fifty-two week high of $46.20.

Riot Blockchain (NASDAQ:RIOT) last issued its quarterly earnings data on Tuesday, August 14th. The technology company reported ($0.60) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.54). The business had revenue of $2.79 million during the quarter, compared to analyst estimates of $4.30 million. Riot Blockchain had a negative net margin of 1,383.44% and a negative return on equity of 92.73%. On average, analysts predict that Riot Blockchain will post -1.83 earnings per share for the current year.

About Riot Blockchain

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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