5 Best Bitcoin Stocks to Buy Now

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1. Riot Blockchain, Inc (NASDAQ:RIOT)

Number of Hedge Fund Holders: 13

Riot Blockchain, Inc. (NASDAQ:RIOT) is a leading North American Bitcoin mining company. The company has three business divisions: Bitcoin Mining, Data Center Hosting, and Electrical Products & Engineering. Over the past three months, Riot Blockchain, Inc (NASDAQ:RIOT) has received 5 Buy ratings and 1 Hold rating and has an average price target of $13.67, which implies a 96% upside from current levels. On August 15, Riot Blockchain, Inc. (NASDAQ:RIOT) reported that its revenue for the fiscal second quarter of 2022 amounted to $72.95 million, up 112.38% year over year.

On July 26, B. Riley analyst Lucas Pipes reiterated his Buy rating and $16 price target on Riot Blockchain, Inc (NASDAQ:RIOT) and also added the stock to B. Riley’s “25 for 2022” picks list. On September 12, Roth Capital analyst Darren Aftahi reiterated his Buy rating and $15 price target on Riot Blockchain, Inc (NASDAQ:RIOT). The analyst noted that Riot Blockchain, Inc. (NASDAQ:RIOT) continues to remain his top pick among Bitcoin mining companies. On September 28, Wells Fargo analyst Jeff Cantwell started coverage on Riot Blockchain (NASDAQ:RIOT) with an Equal-Weight rating and a $7 price target.

Riot Blockchain, Inc. (NASDAQ:RIOT) was spotted on 13 hedge fund portfolios at the end of Q2 2022. The total stakes of these hedge funds amounted to $13.6 million in the company. As of June 30, Schonfeld Strategic Advisors is the largest shareholder in the company and has stakes worth $2.77 million.

You can also take a look at 10 Best Bitcoin Stocks and 10 Best Blockchain Stocks to Buy.

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