7,598 Shares in Riot Blockchain, Inc. (NASDAQ:RIOT) Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC bought a new stake in Riot Blockchain, Inc. (NASDAQ:RIOT) during the first quarter, Holdings Channel reports. The fund bought 7,598 shares of the technology company’s stock, valued at approximately $405,000.

A number of other hedge funds have also recently bought and sold shares of RIOT. Captrust Financial Advisors increased its stake in Riot Blockchain by 222.2% during the fourth quarter. Captrust Financial Advisors now owns 1,450 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,000 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in shares of Riot Blockchain by 47.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 1,550 shares of the technology company’s stock worth $26,000 after purchasing an additional 500 shares during the period. Valeo Financial Advisors LLC acquired a new stake in Riot Blockchain during the 4th quarter worth approximately $26,000. Allworth Financial LP purchased a new position in Riot Blockchain in the first quarter valued at approximately $30,000. Finally, Trustcore Financial Services LLC acquired a new position in Riot Blockchain during the first quarter valued at approximately $31,000. 22.21% of the stock is owned by hedge funds and other institutional investors.

RIOT opened at $31.64 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -316.40 and a beta of 4.36. The firm’s 50 day moving average price is $36.05. Riot Blockchain, Inc. has a 52-week low of $2.04 and a 52-week high of $79.50.

Riot Blockchain (NASDAQ:RIOT) last released its quarterly earnings results on Sunday, May 16th. The technology company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.11). Riot Blockchain had a negative net margin of 2.64% and a negative return on equity of 0.47%. The firm had revenue of $23.20 million for the quarter, compared to analyst estimates of $24.30 million. Equities analysts expect that Riot Blockchain, Inc. will post 0.85 earnings per share for the current year.

A number of equities analysts have recently commented on RIOT shares. Zacks Investment Research downgraded shares of Riot Blockchain from a “buy” rating to a “strong sell” rating in a research note on Thursday, June 3rd. B. Riley assumed coverage on Riot Blockchain in a research report on Tuesday, May 25th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on Riot Blockchain from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, June 1st.

Riot Blockchain Company Profile

Riot Blockchain, Inc, together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining. As of December 31, 2020, it operated a fleet of 7,043 miners. The company was formerly known as Bioptix, Inc and changed its name to Riot Blockchain, Inc in October 2017.

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Institutional Ownership by Quarter for Riot Blockchain (NASDAQ:RIOT)

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