Riot Blockchain Inc. [RIOT] Stock trading around $7.12 per share: What’s Next?


Riot Blockchain Inc. [NASDAQ: RIOT] loss -6.56% on the last trading session, reaching $7.12 price per share at the time. The company report on July 11, 2022 that Riot Blockchain Announces Independent Proxy Advisory Firms ISS and Glass Lewis Recommendations “For” Proposal No. 4 at the Upcoming Annual General Meeting of Stockholders.

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Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Blockchain” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and hosting is pleased to report that, in respect of its upcoming Annual General Meeting of stockholders (the “AGM”), both Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis”), the leading independent proxy advisor firms who provide voting recommendations to institutional investors, have recommended that the Company’s stockholders vote FOR Proposal No. 4, to increase the number of authorized shares of Riot Blockchain, Inc. common stock, authorized for issuance.

Riot Blockchain Inc. represents 117.04 million in outstanding shares, while the company has a total market value of $920.47 million with the latest information. RIOT stock price has been found in the range of $7.06 to $7.93.

If compared to the average trading volume of 14.27M shares, RIOT reached a trading volume of 18182521 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 $21.20 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 1.90. 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.

Compass Point have made an estimate for Riot Blockchain Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2022. While these analysts kept the previous recommendation, Compass Point dropped their target price from $45 to $39. The new note on the price target was released on March 08, 2022, representing the official price target for Riot Blockchain Inc. stock. Previously, the target price had yet another raise to $30, while Northland Capital analysts kept a Outperform rating on RIOT stock.

The Average True Range (ATR) for Riot Blockchain Inc. is set at 0.64, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 0.60, with the Price to Cash per share for the same quarter was set at 2.42.

Trading performance analysis for RIOT stock

Riot Blockchain Inc. [RIOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.83. With this latest performance, RIOT shares gained by 54.78% in over the last four-week period, additionally sinking by -59.24% over the last 6 months – not to mention a drop of -75.34% 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 62.24, with the RSI for the last a single of trading hit 68.71, and the three-weeks RSI is set at 55.29 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 5.88, while it was recorded at 6.99 for the last single week of trading, and 18.04 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 +8.16 and a Gross Margin at +49.16. Riot Blockchain Inc.’s Net Margin is presently recorded at -3.72.

Return on Equity for this stock declined to -0.97, with Return on Assets sitting at -0.88.

Riot Blockchain Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.80 and a Current Ratio set at 3.80.

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 $312 million, or 32.60% of RIOT stock, in the hands of institutional investors. The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 10,430,675, which is approximately 3.891% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 6,886,265 shares of the stock with an approximate value of $49.03 million in RIOT stocks shares; and MORGAN STANLEY, currently with $18.21 million in RIOT stock with ownership of nearly 125.476% of the company’s market capitalization.

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 131 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 10,461,105 shares. Additionally, 112 investors decreased positions by around 8,400,498 shares, while 35 investors held positions by with 24,968,193 shares. The mentioned changes placed institutional holdings at 43,829,796 shares, according to the latest SEC report filing. RIOT stock had 44 new institutional investments in for a total of 1,455,285 shares, while 58 institutional investors sold positions of 1,836,645 shares during the same period.