HC Wainwright Cuts Riot Blockchain (RIOT) Price Target to $4.00

Riot Blockchain (NASDAQ:RIOT) had its price objective decreased by HC Wainwright from $10.00 to $4.00 in a report issued on Thursday, The Fly reports. HC Wainwright currently has a buy rating on the technology company’s stock.

Separately, Zacks Investment Research raised shares of Riot Blockchain from a sell rating to a hold rating in a research report on Thursday, July 19th.

NASDAQ:RIOT opened at $3.02 on Thursday. Riot Blockchain has a 52 week low of $2.91 and a 52 week high of $46.20. The stock has a market cap of $51.23 million, a P/E ratio of -1.11 and a beta of 2.38.

A number of large investors have recently added to or reduced their stakes in RIOT. Equitec Proprietary Markets LLC bought a new position in Riot Blockchain during the first quarter worth about $127,000. Equitec Specialists LLC bought a new position in Riot Blockchain during the first quarter worth about $386,000. Finally, BlackRock Inc. increased its position in Riot Blockchain by 29.1% during the second quarter. BlackRock Inc. now owns 159,450 shares of the technology company’s stock worth $1,011,000 after acquiring an additional 35,954 shares during the period. 13.42% of the stock is currently owned by institutional investors and hedge funds.

About Riot Blockchain

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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