Riot Blockchain Inc (NASDAQ:RIOT) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 3,688,600 shares, a decline of 7.9% from the May 15th total of 4,005,400 shares. Currently, 28.2% of the shares of the stock are short sold. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is currently 2.0 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning purchased a new position in Riot Blockchain in the 1st quarter worth approximately $36,000. National Asset Management Inc. purchased a new position in Riot Blockchain in the 1st quarter worth approximately $82,000. Deutsche Bank AG boosted its holdings in Riot Blockchain by 4,404,000.0% in the 4th quarter. Deutsche Bank AG now owns 44,041 shares of the technology company’s stock worth $66,000 after acquiring an additional 44,040 shares during the period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 15,873 shares during the period. Finally, Barclays PLC purchased a new position in Riot Blockchain in the 4th quarter worth approximately $241,000. Hedge funds and other institutional investors own 12.04% of the company’s stock.
RIOT has been the subject of several analyst reports. Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Wednesday, June 5th. HC Wainwright set a $2.00 target price on shares of POET Technologies and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.
RIOT opened at $2.26 on Friday. Riot Blockchain has a 1 year low of $1.29 and a 1 year high of $8.56. The business’s 50 day simple moving average is $2.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.13 and a quick ratio of 0.13.
Riot Blockchain Company Profile
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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