Zacks: Riot Blockchain Inc (RIOT) Given Average Recommendation of “Strong Buy” by Analysts

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

Brokers have set a 12 month consensus price objective 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 assigned Riot Blockchain an industry rank of 154 out of 257 based on the ratings given to related companies.

Several research firms recently weighed in on RIOT. Zacks Investment Research lowered Riot Blockchain from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. HC Wainwright dropped their price target on Riot Blockchain from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th.

An institutional investor recently raised its position in Riot Blockchain stock. BlackRock Inc. grew its stake in Riot Blockchain Inc (NASDAQ:RIOT) by 132.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 370,794 shares of the technology company’s stock after acquiring an additional 211,344 shares during the quarter. BlackRock Inc. owned 2.64% of Riot Blockchain worth $1,354,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 14.06% of the company’s stock.

Shares of RIOT stock traded up $0.01 during trading hours on Friday, reaching $1.86. The company’s stock had a trading volume of 1,600 shares, compared to its average volume of 488,959. The firm has a market cap of $26.82 million, a P/E ratio of -0.70 and a beta of 2.66. Riot Blockchain has a one year low of $1.65 and a one year high of $46.20.

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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