Shares of Bitcoin-related stocks including Coinbase Global, Inc. (NASDAQ:COIN) and Riot Blockchain, Inc. (NASDAQ:RIOT) are trading higher amid an increase in the price of bitcoin.
Oppenheimer analyst Owen Lau also maintained an Outperform rating on Coinbase Global and raised the price target from $434 to $444.
Coinbase Global is a provider of end-to-end financial infrastructure and technology for the crypto-economy.
Coinbase shares were trading about 4% higher at $244.74 on Wednesday at the time of publication. The stock set a new 52-week high of $429.54 and has a 52-week low of $208.
Riot Blockchain, together with its subsidiaries, focuses on cryptocurrency mining operation in North America. The company primarily focuses on bitcoin mining.
Riot Blockchain's shares were trading about 0.7% higher at $35.68. The stock set a new 52-week high of $79.50 and has a 52-week low of $2.06.