Riot Blockchain (NASDAQ:RIOT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Riot Blockchain, Inc. leverages its expertise and network to build and support blockchain technology companies. It is establishing an Advisory Board with technical experience intending to become a leading authority and supporter of blockchain, while providing investment exposure to the rapidly growing blockchain ecosystem. Riot Blockchain, Inc., formerly known as Bioptix, Inc., is based in CASTLE ROCK, United States. “

Separately, HC Wainwright lowered their price objective on shares of Riot Blockchain from $10.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, October 4th.

Shares of RIOT opened at $1.85 on Wednesday. The company has a market capitalization of $26.53 million, a PE ratio of -0.68 and a beta of 2.66. Riot Blockchain has a fifty-two week low of $1.65 and a fifty-two week high of $46.20.

A hedge fund recently raised its stake in Riot Blockchain stock. BlackRock Inc. increased its position in Riot Blockchain Inc (NASDAQ:RIOT) by 29.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,450 shares of the technology company’s stock after buying an additional 35,954 shares during the quarter. BlackRock Inc. owned 1.17% of Riot Blockchain worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 14.06% of the company’s stock.

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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