Riot Blockchain (NASDAQ:RIOT) Shares Gap Up to $48.37


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Riot Blockchain, Inc. (NASDAQ:RIOT) shares gapped up before the market opened on Thursday . The stock had previously closed at $48.37, but opened at $49.99. Riot Blockchain shares last traded at $50.68, with a volume of 49,673 shares traded.

Several research firms recently issued reports on RIOT. HC Wainwright upped their target price on Riot Blockchain from $28.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, April 1st. Zacks Investment Research upgraded Riot Blockchain from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Wednesday, March 10th.

The firm has a 50 day simple moving average of $54.33 and a 200-day simple moving average of $22.78. The stock has a market cap of $3.49 billion, a P/E ratio of -85.47 and a beta of 4.56.

Riot Blockchain (NASDAQ:RIOT) last released its quarterly earnings data on Tuesday, March 30th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, equities research analysts predict that Riot Blockchain, Inc. will post -0.22 EPS for the current year.

Several institutional investors have recently bought and sold shares of RIOT. Dorsey Wright & Associates acquired a new position in shares of Riot Blockchain in the fourth quarter valued at approximately $25,000. Captrust Financial Advisors grew its position in shares of Riot Blockchain by 222.2% in the fourth quarter. Captrust Financial Advisors now owns 1,450 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,000 shares during the last quarter. Tradewinds Capital Management LLC grew its position in shares of Riot Blockchain by 47.6% in 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 during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Riot Blockchain in the fourth quarter valued at approximately $26,000. Finally, ExodusPoint Capital Management LP acquired a new stake in Riot Blockchain during the third quarter worth approximately $32,000. 9.01% of the stock is currently owned by institutional investors.

About Riot Blockchain (NASDAQ:RIOT)

Riot Blockchain, Inc, together with its subsidiaries, focuses on building, supporting, and operating Blockchain technologies ecosystem. It is involved in digital currency mining operation, which utilizes specialized computers that generate digital currency primarily bitcoin. The company also holds interests in various activities, including purchasing and selling digital currencies; provides accounting, audit, and verification services for blockchain based assets, such as cryptocurrencies; and develops TessPay, a payments ecosystem for component and sub-component supply chain settlement solution, as well as other blockchain solutions for telecommunications companies.

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