Riot Blockchain (RIOT) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Riot Blockchain (NASDAQ:RIOT) from a hold rating to a sell rating in a report issued on Wednesday morning.

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 reduced their price target on Riot Blockchain from $10.00 to $4.00 and set a buy rating on the stock in a report on Thursday, October 4th.

NASDAQ:RIOT opened at $1.85 on Wednesday. The stock has a market cap of $27.69 million, a PE ratio of -0.68 and a beta of 2.66. Riot Blockchain has a 1-year low of $1.65 and a 1-year high of $46.20.

A hedge fund recently raised its stake in Riot Blockchain stock. BlackRock Inc. increased its stake in Riot Blockchain Inc (NASDAQ:RIOT) by 29.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 159,450 shares of the technology company’s stock after acquiring an additional 35,954 shares during the quarter. BlackRock Inc. owned about 1.17% of Riot Blockchain worth $1,011,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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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