Riot Blockchain (NASDAQ:RIOT) Share Price Crosses Above 200 Day Moving Average of $3.25

Riot Blockchain Inc (NASDAQ:RIOT) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.25 and traded as high as $1.94. Riot Blockchain shares last traded at $1.94, with a volume of 4,348 shares trading hands.

A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Riot Blockchain from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered Riot Blockchain from a “hold” rating to a “sell” rating in a report on Wednesday, June 5th.

The firm has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $3.25. The company has a market cap of $30.00 million, a price-to-earnings ratio of -1.16 and a beta of 3.20.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RIOT. Morgan Stanley grew its holdings in shares of Riot Blockchain by 111.0% in the 2nd quarter. Morgan Stanley now owns 17,729 shares of the technology company’s stock worth $55,000 after acquiring an additional 9,325 shares during the period. Creative Planning acquired a new position in Riot Blockchain in the first quarter worth approximately $36,000. Geode Capital Management LLC grew its position in Riot Blockchain by 18.7% in the fourth 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 during the last quarter. National Asset Management Inc. acquired a new position in Riot Blockchain in the first quarter worth approximately $82,000. Finally, Nomura Holdings Inc. acquired a new position in Riot Blockchain in the second quarter worth approximately $108,000. Institutional investors own 14.05% of the company’s stock.

About Riot Blockchain (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.

Read More: Should I follow buy, hold and sell recommendations?

Receive News & Ratings for Riot Blockchain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Riot Blockchain and related companies with MarketBeat.com's FREE daily email newsletter.