The stock of Riot Blockchain, Inc. (NASDAQ:RIOT) is now priced at $3.5 and the shares are -0.09 points down or -2.51% lower compared to its previous closing price of $3.59. The stock had 4.588 million contracts set over the past session. RIOT shares’ daily volume is compared to its average trading volume at 9.601 million shares. However, it has a float of 32.88 million and although its performance was -3.58% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the RIOT share price recently placing at $3.35 to $3.7. However, some brokerage firms have priced the stock below the average, including one that has called $3.5.
The shorts are climbing into the Riot Blockchain, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the RIOT shares have risen. Short interest in the stock represents just 21.83% of its float, but the volume has raised by 815857. The volume of shorted shares rised to 7.179 million from 6.363 million shares over the last two weeks. The average intraday trading volume has been 19.402 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Riot Blockchain, Inc. (NASDAQ:RIOT) dropped by -$0.13 over the week and gained $unch on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.58. The stock recorded its established 52-week high on 08/06/20.
Since 03/18/20, the stock has traded to a low of $0.51 at 584.93%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 3.24. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Riot Blockchain, Inc.’s two-week RSI is 51.76. This suggests that the stock is neutral at the moment and that RIOT shares’ price movement remains stable. The stochastic readings are equally revealing at 29.66% meaning the RIOT share price is currently in overbought territory.
The technical chart shows that the RIOT stock will likely settle at between $3.68 and $3.87 per share. However, if the stock dips below $3.33, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.17.
Currently, the stock is trading in the red of MACD, with a reading of -0.14. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
The average rating for the RIOT equity is 2 and is currently gathering a bullish momentum. Of 1 analysts tracking Riot Blockchain, Inc. polled by Reuters, 0 rated RIOT as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.