Finance

Should You Invest in Riot Blockchain, Inc. (RIOT)? A Look at the Insider Trends

Recent insider trends for Riot Blockchain, Inc. (NASDAQ:RIOT) have caught the attention of investors. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. In the case of RIOT, the data has some interesting implications for where the stock might be headed.

Institutions own 02.84% of Riot Blockchain, Inc. (RIOT)’s shares. The total value of these holdings, in millions, is $8. Among active positions in the latest quarter, 7 holders increased their positions by a total of 80381 shares, 6 holders decreased the positions by a total of 69874 shares, and 5 holders held their positions. This works out to a net increase in ownership of 10507 shares, and suggests that institutions are feeling bullish about the stock.

Among new and sold out positions, 1 holders initiated new positions by a total of 7 shares and 4 holders exited their positions by a total of 66986 shares. This nets out to a decrease of 66979 shares and is another bearish sign for RIOT.

In the last three months, insiders executed a total of 4 trades. 2 of these were buys and 2 were sells. Insider ownership increased by a total of 353617 shares, which suggests that RIOT’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a similar story: insiders executed 2 buys and 2 sells, and ownership increased by a net of 353617 shares.



Short interest is another tool that analysts use to gauge investor sentiment. It represents the number of a stock’s shares that are being shorted by investors. Riot Blockchain, Inc. (NASDAQ:RIOT)’s short interest is 2.56 million shares, or % of the float. This represents an increase of 50% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

In light of the insider ownership and trading data it makes sense to consider technicals to see if they come to a similar conclusion about the outlook for RIOT. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that RIOT is a Weak buy, which implies that RIOT is expected to outperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Riot Blockchain, Inc. (NASDAQ:RIOT) is undervalued.

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