Riot Blockchain (NASDAQ:RIOT) announced its earnings results on Tuesday. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.24, Fidelity Earnings reports. Riot Blockchain had a negative net margin of 250.06% and a negative return on equity of 51.38%.
RIOT stock traded down $0.84 during trading on Thursday, hitting $52.43. The company had a trading volume of 729,537 shares, compared to its average volume of 31,173,424. The company has a fifty day moving average price of $53.22 and a two-hundred day moving average price of $21.02. Riot Blockchain has a fifty-two week low of $0.76 and a fifty-two week high of $79.50. The company has a market cap of $3.54 billion, a P/E ratio of -86.77 and a beta of 4.56.
Several equities research analysts recently weighed in on RIOT shares. Zacks Investment Research upgraded shares of Riot Blockchain from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, March 10th. HC Wainwright upped their target price on Riot Blockchain from $28.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday.
Riot Blockchain, Inc, together with its subsidiaries, focuses on building, supporting, and operating Blockchain technologies ecosystem. It is involved in digital currency mining operation, which utilizes specialized computers that generate digital currency primarily bitcoin. The company also holds interests in various activities, including purchasing and selling digital currencies; provides accounting, audit, and verification services for blockchain based assets, such as cryptocurrencies; and develops TessPay, a payments ecosystem for component and sub-component supply chain settlement solution, as well as other blockchain solutions for telecommunications companies.
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