Riot Blockchain (RIOT) Shares Up 7.4% After Analyst Upgrade

Riot Blockchain Inc (NASDAQ:RIOT) shares were up 7.4% during trading 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. Approximately 16,276 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 2,024,915 shares. The stock had previously closed at $4.46.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its stake in Riot Blockchain by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 490,146 shares of the technology company’s stock worth $1,789,000 after buying an additional 10,493 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Riot Blockchain by 132.5% during the third quarter. BlackRock Inc. now owns 370,794 shares of the technology company’s stock valued at $1,354,000 after acquiring an additional 211,344 shares during the period. Barclays PLC acquired a new position in shares of Riot Blockchain during the fourth quarter valued at $241,000. Deutsche Bank AG grew its position in shares of Riot Blockchain by 4,404,000.0% during the fourth quarter. Deutsche Bank AG now owns 44,041 shares of the technology company’s stock worth $66,000 after acquiring an additional 44,040 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Riot Blockchain by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 100,635 shares of the technology company’s stock worth $151,000 after acquiring an additional 15,873 shares during the last quarter. 8.40% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.38, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market capitalization of $65.83 million, a PE ratio of -1.76 and a beta of 3.02.

COPYRIGHT VIOLATION NOTICE: This news story was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2019/04/08/riot-blockchain-riot-shares-up-7-4-after-analyst-upgrade.html.

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.

Further Reading: Compound Interest

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.