Riot Blockchain (NASDAQ:RIOT) Shares Gap Down to $26.52

Shares of Riot Blockchain, Inc. (NASDAQ:RIOT) gapped down before the market opened on Thursday . The stock had previously closed at $26.52, but opened at $22.35. Riot Blockchain shares last traded at $24.80, with a volume of 71,998 shares trading hands.

A number of equities analysts have recently commented on RIOT shares. Zacks Investment Research cut Riot Blockchain from a “buy” rating to a “hold” rating in a report on Saturday, April 17th. HC Wainwright lifted their price objective on shares of Riot Blockchain from $28.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, April 1st.

The company has a market capitalization of $2.19 billion, a PE ratio of -43.37 and a beta of 4.56. The stock’s 50-day moving average is $43.49 and its two-hundred day moving average is $29.76.

Riot Blockchain (NASDAQ:RIOT) last released its earnings results on Tuesday, March 30th. The technology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.24. Riot Blockchain had a negative return on equity of 51.38% and a negative net margin of 250.06%. Equities research analysts anticipate that Riot Blockchain, Inc. will post -0.22 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Dorsey Wright & Associates purchased a new stake in Riot Blockchain in the fourth quarter worth about $25,000. Captrust Financial Advisors lifted its stake in shares of Riot Blockchain by 222.2% during the 4th quarter. Captrust Financial Advisors now owns 1,450 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,000 shares during the last quarter. Tradewinds Capital Management LLC boosted its position in Riot Blockchain by 47.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 1,550 shares of the technology company’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in Riot Blockchain in the fourth quarter valued at about $26,000. Finally, Allworth Financial LP bought a new position in Riot Blockchain in the first quarter worth about $30,000. Institutional investors and hedge funds own 9.01% of the company’s stock.

Riot Blockchain Company Profile (NASDAQ:RIOT)

Riot Blockchain, Inc, together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a fleet of 7,043 miners. The company was formerly known as Bioptix, Inc and changed its name to Riot Blockchain, Inc in October 2017.

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