Wells Fargo lifts Riot Blockchain Inc. [RIOT] price estimate. Who else is bullish?

Riot Blockchain Inc. [NASDAQ: RIOT] closed the trading session at $6.39 on 10/10/22. The day’s price range saw the stock hit a low of $6.20, while the highest price level was $6.61. The company report on October 4, 2022 that Riot Announces September 2022 Production and Operations Updates.

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Riot Produces 355 Bitcoin in September 2022 and Significantly Expands Hash Rate Capacity to All-Time Record.

The stocks have a year to date performance of -71.38 percent and weekly performance of -11.13 percent. The stock has been moved at -61.69 percent over the last six months. The stock has performed -22.64 percent around the most recent 30 days and changed 32.02 percent over the most recent 3-months.

If compared to the average trading volume of 15.11M shares, RIOT reached to a volume of 5376393 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $12.73 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 1.80. 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.

Wells Fargo have made an estimate for Riot Blockchain Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on September 29, 2022. The new note on the price target was released on June 28, 2022, representing the official price target for Riot Blockchain Inc. stock. Previously, the target price had yet another drop from $45 to $39, while Compass Point kept a Neutral rating on RIOT stock.

The Average True Range (ATR) for Riot Blockchain Inc. is set at 0.58, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 3.78. The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 2.19.

RIOT stock trade performance evaluation

Riot Blockchain Inc. [RIOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.13. With this latest performance, RIOT shares dropped by -22.64% in over the last four-week period, additionally sinking by -61.69% over the last 6 months – not to mention a drop of -75.26% 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 41.81, with the RSI for the last a single of trading hit 37.54, and the three-weeks RSI is set at 44.20 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 7.46, while it was recorded at 6.99 for the last single week of trading, and 11.66 for the last 200 days.

Riot Blockchain Inc. [RIOT]: An insightful look at the core fundamentals

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.

Earnings per share (EPS) analysis for Riot Blockchain Inc. [RIOT] stock

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%.

Riot Blockchain Inc. [RIOT]: Insider Ownership positions

There are presently around $339 million, or 32.70% 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 7.00% of the total institutional ownership; BLACKROCK INC., holding 8,225,205 shares of the stock with an approximate value of $52.56 million in RIOT stocks shares; and STATE STREET CORP, currently with $18.02 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 November and at the time of the November reporting period, where 125 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 13,716,492 shares. Additionally, 96 investors decreased positions by around 4,415,503 shares, while 52 investors held positions by with 34,874,612 shares. The mentioned changes placed institutional holdings at 53,006,607 shares, according to the latest SEC report filing. RIOT stock had 51 new institutional investments in for a total of 4,482,899 shares, while 47 institutional investors sold positions of 1,486,367 shares during the same period.


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