Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Riot Blockchain Inc (NASDAQ: RIOT), Capstar Financial Holdings Inc (NASDAQ: CSTR) and Donegal Group (NASDAQ: DGICA).
Riot Blockchain Inc (NASDAQ: RIOT)
In a report issued on June 12, Kevin Dede from H.C. Wainwright maintained a Buy rating on Riot Blockchain Inc (NASDAQ: RIOT), with a price target of $10. The company’s shares closed yesterday at $7.26, close to its 52-week low of $3.08.
Dede commented:
“We understand the company has the 150 miners on premise in Oklahoma City, and we expect them to become operational in June. In May, Riot used 11.5MW of electrical energy, but not quite all of the electrical power, as much as 12MW, to which Riot has access and may need to fuel the company’s planned cryptocurrency mining operation in what we would argue to be one of the lowest-cost energy geographies available globally. Based on our rough calculations, Riot may have generated $1 million in May’s cryptocurrency mining operation, on its way toward $1.4-1.6 million on monthly average, depending on bitcoin pricing, and given operations appear on course, we are making no changes to our estimates.”
According to TipRanks.com, Dede is ranked 0 out of 5 stars with an average return of -9.8% and a 36.4% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and SuperCom.
Riot Blockchain Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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Capstar Financial Holdings Inc (NASDAQ: CSTR)
In a report issued on June 12, Tyler Stafford from Stephens maintained a Hold rating on Capstar Financial Holdings Inc (NASDAQ: CSTR), with a price target of $19. The company’s shares closed yesterday at $19.81.
According to TipRanks.com, Stafford is a 5-star analyst with an average return of 22.1% and a 88.0% success rate. Stafford covers the Financial sector, focusing on stocks such as State Bank Financial Corporation, Carolina Financial Corporation, and Pacific Premier Bancorp Inc.
Capstar Financial Holdings Inc has an analyst consensus of Hold, with a price target consensus of $19.50.
Donegal Group (NASDAQ: DGICA)
In a report issued on June 12, Robert Farnam from Boenning & Scattergood maintained a Hold rating on Donegal Group (NASDAQ: DGICA). The company’s shares closed yesterday at $14.29.
Farnam wrote:
“We view the transaction favorably. Donegal’s bank subsidiary was not considered a core operation by management – we believe it was a distraction. The sale allows management to focus on Donegal’s core P&C insurance operations. It also reduces the regulatory burden on the company.”
According to TipRanks.com, Farnam is a 1-star analyst with an average return of -1.9% and a 40.0% success rate. Farnam covers the Financial sector, focusing on stocks such as 1347 Property Insurance Holdings Inc, Hallmark Financial Services, and Selective Insurance Group.
Donegal Group has an analyst consensus of Moderate Buy, with a price target consensus of $18.
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