why Riot Blockchain Inc. [RIOT] is a Good Choice for Investors After New Price Target of $47.80
Riot Blockchain Inc. [NASDAQ: RIOT] loss -1.01% or -0.38 points to close at $37.32 with a heavy trading volume of 6924486 shares. The company report on August 24, 2021 that Riot Blockchain Reports Record Second Quarter 2021 Financial Results, Current Operational and Financial Highlights.
Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended June 30, 2021. The unaudited financial statements are available on Riot’s website and here.
Increased mining revenue by 1,540% to a record $31.5 million for the three-month period ended June 30, 2021, as compared to $1.9 million for the same three-month period in 2020.
It opened the trading session at $37.489, the shares rose to $37.99 and dropped to $36.54, the range by which the price of stock traded the whole day. The daily chart for RIOT points out that the company has recorded -24.71% loss over the past six months. However, it is still -1488.09% lower than its most recent low trading price.
If we look at the average trading volume of 10.38M shares, RIOT reached to a volume of 6924486 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Riot Blockchain Inc. [RIOT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIOT shares is $47.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIOT stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Riot Blockchain Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 30, 2021. While these analysts kept the previous recommendation, Compass Point raised their target price to Buy. The new note on the price target was released on June 21, 2021, representing the official price target for Riot Blockchain Inc. stock. Previously, the target price had yet another raise to $43, while B. Riley Securities analysts kept a Buy rating on RIOT stock.
The Average True Range (ATR) for Riot Blockchain Inc. is set at 2.70, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 51.58. The Price to Book ratio for the last quarter was 4.64, with the Price to Cash per share for the same quarter was set at 2.44.
Trading performance analysis for RIOT stock
Riot Blockchain Inc. [RIOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.82. With this latest performance, RIOT shares gained by 11.57% in over the last four-week period, additionally sinking by -24.71% over the last 6 months – not to mention a rise of 966.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIOT stock in for the last two-week period is set at 56.88, with the RSI for the last a single of trading hit 57.56, and the three-weeks RSI is set at 55.61 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 33.62, while it was recorded at 37.52 for the last single week of trading, and 32.40 for the last 200 days.
Riot Blockchain Inc. [RIOT]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Riot Blockchain Inc. [RIOT] shares currently have an operating margin of -73.79 and a Gross Margin at +11.06. Riot Blockchain Inc.’s Net Margin is presently recorded at -104.91.
Return on Total Capital for RIOT is now -5.87, given the latest momentum, and Return on Invested Capital for the company is -8.36. Return on Equity for this stock declined to -8.36, with Return on Assets sitting at -8.16.
Reflecting on the efficiency of the workforce at the company, Riot Blockchain Inc. [RIOT] managed to generate an average of -$1,584,250 per employee.Riot Blockchain Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.90 and a Current Ratio set at 5.90.
Riot Blockchain Inc. [RIOT]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIOT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Riot Blockchain Inc. go to 20.00%.
An analysis of insider ownership at Riot Blockchain Inc. [RIOT]
There are presently around $1,038 million, or 29.60% of RIOT stock, in the hands of institutional investors. The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 5,729,446, which is approximately 36.138% of the company’s market cap and around 12.90% of the total institutional ownership; BLACKROCK INC., holding 5,560,953 shares of the stock with an approximate value of $207.53 million in RIOT stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $92.78 million in RIOT stock with ownership of nearly 2.427% of the company’s market capitalization.
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Positions in Riot Blockchain Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 148 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 12,798,188 shares. Additionally, 82 investors decreased positions by around 3,695,304 shares, while 20 investors held positions by with 11,332,296 shares. The mentioned changes placed institutional holdings at 27,825,788 shares, according to the latest SEC report filing. RIOT stock had 91 new institutional investments in for a total of 2,712,626 shares, while 48 institutional investors sold positions of 865,482 shares during the same period.
Text source: MCC.EXCHANGE
