Fintel reports that on April 12, 2023, Needham maintained coverage of Riot Blockchain (NASDAQ:RIOT) with a Buy recommendation.
Analyst Price Forecast Suggests 22.04% Downside
As of April 6, 2023, the average one-year price target for Riot Blockchain is $9.65. The forecasts range from a low of $5.05 to a high of $12.60. The average price target represents a decrease of 22.04% from its latest reported closing price of $12.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Riot Blockchain is $424MM, an increase of 63.58%. The projected annual non-GAAP EPS is -$0.08.
What are Other Shareholders Doing?
MetLife Investment Management holds 83K shares representing 0.05% ownership of the company. In it's prior filing, the firm reported owning 72K shares, representing an increase of 13.43%. The firm decreased its portfolio allocation in RIOT by 49.43% over the last quarter.
Citigroup holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing a decrease of 35.00%. The firm decreased its portfolio allocation in RIOT by 82.19% over the last quarter.
TISBX - TIAA-CREF Small-Cap Blend Index Fund Institutional Class holds 215K shares representing 0.13% ownership of the company. In it's prior filing, the firm reported owning 179K shares, representing an increase of 16.88%. The firm increased its portfolio allocation in RIOT by 5.96% over the last quarter.
Versant Capital Management holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 69.01%. The firm increased its portfolio allocation in RIOT by 774.88% over the last quarter.
Aqr Capital Management holds 36K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
What is the Fund Sentiment?
There are 398 funds or institutions reporting positions in Riot Blockchain.
This is an increase
of
9
owner(s) or 2.31% in the last quarter.
Average portfolio weight of all funds dedicated to RIOT is 0.26%,
an increase
of 6.84%.
Total shares owned by institutions increased
in the last three months by 4.79% to 67,857K shares.
The put/call ratio of RIOT is 0.65, indicating a
bullish
outlook.
Riot Blockchain Background Information
(This description is provided by the company.)
Riot Blockchain focuses on cryptocurrency mining of bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot also holds certain non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company's primary mining facility operates out of upstate New York, under a co-location hosting agreement with Coinmint.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
