The Price Target For Riot Blockchain Inc. (RIOT)?

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Riot Blockchain Inc. (NASDAQ:RIOT) finished Thursday with a subtraction of -$0.03 to close at $6.34, a downside of -0.47 percent. An average of 11,395,540 shares of common stock have been traded in the last five days. There was a fall of -$1.04 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 12,187,695 shares traded, while the 50-day average volume stands at 16,198,428.

RIOT stock has decreased by -10.70% in the last month. The company shares reached their 1-month lowest point of $6.09 on 09/22/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $4.02 and a high of $46.28 in 52 weeks. It has reached a new high 2 times so far this year and lost -71.61% or -$15.99 in price. In spite of this, the price is down -86.30% from the 52-week high.


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Insider Transactions

22 days have passed since Riot Blockchain Inc. (RIOT) last reported insider trading activity. D’Ambrosio Lance Varro, who is Director, most recently acquired $10,000 shares at $6.69 per share on Sep 01. In this transaction, the insider spent $66,900. Director, Marleau Hubert, disposed of 2,500 shares at a price of $17.73 on Apr 07. The insider now owns more than $44,325 worth of shares. Prior to that, Chief Operating Officer Brooks Megan M. went on to Sale 5,000 shares at $25.91 each on Dec 15. An amount of $129,550 was transacted.

Valuation Metrics

Riot Blockchain Inc. (RIOT) stock’s beta is 4.57. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.53, the price-to-book (PB) ratio at 0.64.

Financial Health

The quick ratio of Riot Blockchain Inc. for the three months ended June 29 was 4.90, and the current ratio was 4.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $131.15 million compared to revenue of $213.24 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Riot Blockchain Inc.’s return on assets was -26.70%.

Earnings Surprise

For the three-month period that ended June 29, Riot Blockchain Inc. had $2.03 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$366.33 million in the quarter, while revenues of $35.63 million were grew 105.28%. The analyst consensus anticipated Riot Blockchain Inc.’s latest quarter earnings to come in at $0.03 per share, but it turned out to be -$2.81, a -9,466.70% surprise. For the quarter, EBITDA amounted to -$345.02 million. Shareholders own equity worth $154.54 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Riot Blockchain Inc. (RIOT) price momentum. RSI 9-day as of the close on 22 September was 36.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 122.43%.

As of today, RIOT’s price is $6.42 -14.09% or -$1.04 from its 5-day moving average. RIOT is currently trading -13.03% lower than its 20-day SMA and -37.48% lower than its 100-day SMA. However, the stock’s current price level is +28.60% above the SMA50 and -77.47% below the SMA200.

The stochastic %K and %D were 7.12% and 9.41%, respectively, and the average true range (ATR) was 0.57. With the 14-day stochastic at 9.86% and the average true range at 0.61, the RSI (14) stands at 41.03%. The stock has reached -0.70 on the 9-day MACD Oscillator while the 14-day reading was at -0.72.

Analyst Ratings

Compass Point upgraded Riot Blockchain Inc. (NASDAQ: RIOT) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral.

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