For Riot Blockchain Inc. [RIOT], Analyst sees a rise to $45. What next?

Riot Blockchain Inc. [NASDAQ: RIOT] loss -5.89% or -1.97 points to close at $31.48 with a heavy trading volume of 7961198 shares. The company report on July 9, 2021 that Riot Blockchain Announces June Production and Operations Updates.

Riot produces 243 Bitcoins in June 2021.

Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot”, “Riot Blockchain” or the “Company”), one of the leading Nasdaq-listed Bitcoin mining companies in the United States, announces its June production and operations updates, including its unaudited Bitcoin (“BTC“) production for June 2021 and its miner deployment status.

It opened the trading session at $32.79, the shares rose to $33.0999 and dropped to $30.79, the range by which the price of stock traded the whole day. The daily chart for RIOT points out that the company has recorded 46.49% gains over the past six months. However, it is still -1239.57% lower than its most recent low trading price.

If we look at the average trading volume of 13.56M shares, RIOT reached to a volume of 7961198 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 $46.70 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 1.70. 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 2.59, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 77.94. The Price to Book ratio for the last quarter was 7.12, with the Price to Cash per share for the same quarter was set at 3.38.

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 -0.51. With this latest performance, RIOT shares dropped by -13.11% in over the last four-week period, additionally plugging by 46.49% over the last 6 months – not to mention a rise of 799.43% 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 49.84, with the RSI for the last a single of trading hit 50.16, and the three-weeks RSI is set at 49.25 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 31.40, while it was recorded at 32.55 for the last single week of trading, and 29.18 for the last 200 days.

Riot Blockchain Inc. [RIOT]: A deeper dive into fundamental analysis

Riot Blockchain Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 37.20 and a Current Ratio set at 37.20.

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 $605 million, or 23.30% of RIOT stock, in the hands of institutional investors. The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 4,208,559, which is approximately 58.244% of the company’s market cap and around 14.70% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 2,427,184 shares of the stock with an approximate value of $76.41 million in RIOT stocks shares; and MORGAN STANLEY, currently with $47.46 million in RIOT stock with ownership of nearly 95.444% of the company’s market capitalization.

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127 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 6,894,330 shares. Additionally, 60 investors decreased positions by around 3,628,880 shares, while 11 investors held positions by with 8,683,604 shares. The mentioned changes placed institutional holdings at 19,206,814 shares, according to the latest SEC report filing. RIOT stock had 88 new institutional investments in for a total of 2,996,703 shares, while 24 institutional investors sold positions of 686,134 shares during the same period.

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