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

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

Brokers have set a 1 year consensus target price of $4.00 for the company and are anticipating 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 185 out of 255 based on the ratings given to related companies.

Several research analysts have weighed in on RIOT shares. HC Wainwright decreased their price target on shares of Riot Blockchain from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Zacks Investment Research upgraded shares of Riot Blockchain from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th.

RIOT traded down $0.02 during trading on Tuesday, hitting $2.54. The company’s stock had a trading volume of 316,628 shares, compared to its average volume of 700,174. Riot Blockchain has a one year low of $2.15 and a one year high of $46.20.

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

An institutional investor recently raised its position in Riot Blockchain stock. BlackRock Inc. increased its position in shares of Riot Blockchain Inc (NASDAQ:RIOT) by 29.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period. Institutional investors and hedge funds own 12.67% of the company’s stock.

Riot Blockchain Company Profile

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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