Riot Blockchain (RIOT) Shares Up 9.7%

Shares of Riot Blockchain Inc (NASDAQ:RIOT) shot up 9.7% on Friday . The stock traded as high as $3.75 and last traded at $3.73. 1,376,070 shares were traded during mid-day trading, a decline of 6% from the average session volume of 1,471,589 shares. The stock had previously closed at $3.40.

Separately, Zacks Investment Research cut shares of Riot Blockchain from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st.

The firm has a market capitalization of $49.10 million, a price-to-earnings ratio of -1.38 and a beta of 3.02.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Riot Blockchain by 29.1% in the 2nd quarter. BlackRock Inc. now owns 159,450 shares of the technology company’s stock worth $1,011,000 after buying an additional 35,954 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Riot Blockchain by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 490,146 shares of the technology company’s stock worth $1,789,000 after buying an additional 10,493 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Riot Blockchain by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 100,635 shares of the technology company’s stock worth $151,000 after buying an additional 15,873 shares in the last quarter. Finally, Barclays PLC purchased a new position in shares of Riot Blockchain in the 4th quarter worth $241,000. Institutional investors and hedge funds own 8.54% of the company’s stock.

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About Riot Blockchain (NASDAQ:RIOT)

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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