Market Analysts see Riot Blockchain Inc. [RIOT] gaining to $14. Time to buy?

Riot Blockchain Inc. [NASDAQ: RIOT] loss -3.21% or -0.22 points to close at $6.63 with a heavy trading volume of 11067666 shares. The company report on August 15, 2022 that Riot Reports Second Quarter 2022 Financial Results, Current Operational and Financial Highlights.

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Riot Reports Q2 2022 Results, with $72.9 Million in Total Revenue, 1,395 BTC Produced, and Strengthened Financial Position.

Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot,” or “the Company”), an industry leader in Bitcoin (“BTC”) mining and data center hosting, reported financial results for the three-month period ended June 30, 2022. The unaudited financial statements are available on Riot’s website and here.

It opened the trading session at $7.00, the shares rose to $7.06 and dropped to $6.55, the range by which the price of stock traded the whole day. The daily chart for RIOT points out that the company has recorded -55.56% loss over the past six months. However, it is still -64.93% lower than its most recent low trading price.

If we look at the average trading volume of 15.81M shares, RIOT reached to a volume of 11067666 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 $14.38 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 0.69, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 3.43. The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 2.50.

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 -2.36. With this latest performance, RIOT shares dropped by -18.95% in over the last four-week period, additionally sinking by -55.56% over the last 6 months – not to mention a drop of -81.56% 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 41.54, with the RSI for the last a single of trading hit 35.85, and the three-weeks RSI is set at 44.63 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 6.82, while it was recorded at 6.90 for the last single week of trading, and 14.54 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 4.90 and a Current Ratio set at 4.90.

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 $351 million, or 35.30% of RIOT stock, in the hands of institutional investors. The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 11,369,127, which is approximately 8.997% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 8,225,205 shares of the stock with an approximate value of $54.53 million in RIOT stocks shares; and STATE STREET CORP, currently with $18.7 million in RIOT stock with ownership of nearly 14.067% 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 128 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 13,921,597 shares. Additionally, 93 investors decreased positions by around 4,402,548 shares, while 52 investors held positions by with 34,667,411 shares. The mentioned changes placed institutional holdings at 52,991,556 shares, according to the latest SEC report filing. RIOT stock had 53 new institutional investments in for a total of 4,501,563 shares, while 47 institutional investors sold positions of 1,489,683 shares during the same period.


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