Riot Blockchain Inc (NASDAQ:RIOT) shares were down 1.6% on Thursday . The stock traded as low as $3.61 and last traded at $3.74. Approximately 12,038 shares changed hands during trading, a decline of 98% from the average daily volume of 665,468 shares. The stock had previously closed at $3.80.

Several research analysts have recently weighed in on RIOT shares. HC Wainwright set a $10.00 target price on Riot Blockchain and gave the stock a “buy” rating in a report on Friday, May 18th. Zacks Investment Research cut Riot Blockchain from a “hold” rating to a “sell” rating in a report on Thursday, July 12th.

The firm has a market capitalization of $60.21 million, a price-to-earnings ratio of -1.41 and a beta of 2.50.

Several institutional investors have recently modified their holdings of the company. Equitec Proprietary Markets LLC purchased a new stake in shares of Riot Blockchain during the 1st quarter valued at approximately $127,000. Equitec Specialists LLC purchased a new stake in shares of Riot Blockchain during the 1st quarter valued at approximately $386,000. Finally, BlackRock Inc. raised its position in shares of Riot Blockchain by 29.1% during the 2nd quarter. BlackRock Inc. now owns 159,450 shares of the technology company’s stock valued at $1,011,000 after buying an additional 35,954 shares during the period. Institutional investors and hedge funds own 13.42% of the company’s stock.

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.

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