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H.C. Wainwright Thinks DMG Blockchain Solutions’ Stock is Going to Recover

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H.C. Wainwright analyst Kevin Dede initiated coverage with a Buy rating on DMG Blockchain Solutions (DMGGFResearch Report) today and set a price target of C$2.00. The company’s shares closed last Monday at $0.68, close to its 52-week low of $0.05.

According to TipRanks.com, Dede is a 4-star analyst with an average return of 17.1% and a 44.4% success rate. Dede covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, HIVE Blockchain Technologies, and Mawson Infrastructure Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for DMG Blockchain Solutions with a $1.60 average price target.

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Based on DMG Blockchain Solutions’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.5 million and GAAP net loss of $914. In comparison, last year the company earned revenue of $1.48 million and had a GAAP net loss of $737.8K.

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DMG Blockchain Solutions, Inc. engages in the provision of cryptocurrency and blockchain solutions. It manages, operates and develops end-to-end digital solutions to monetize the blockchain ecosystem. The company was founded on April 18, 2011 and is headquartered in Vancouver, Canada.

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