Weekly Performance Analysis for Riot Blockchain Inc. (RIOT)

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Riot Blockchain Inc. (NASDAQ:RIOT) saw an upside of 4.52% to close Monday at $6.48 after adding $0.28 on the day. The 5-day average trading volume is 21,575,180 shares of the company’s common stock. It has gained $6.63 in the past week and touched a new high 3 times within the past 5 days. An average of 15,420,045 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,751,542.

RIOT’s 1-month performance is 69.19% or $2.80 on its low of $3.25 reached on 12/28/22. The company’s shares have touched a 52-week low of $3.25 and high of $23.66, with the stock’s rally to the 52-week high happening on 01/23/23. YTD, RIOT has achieved 91.15% or $3.09 and has reached a new high 12 times. However, the current price is down -72.61% from the 52-week high price.

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Insider Transactions

RIOT stock investors last saw insider trading activity on Jan 17.D’Ambrosio Lance Varro (Director) most recently sold 26,000 shares at $6.39 per share on Jan 17. This transaction cost the insider $166,101. EVP & General Counsel, Jackman William Richard, sold 25,000 shares at a price of $4.00 on Dec 15. Then, on Dec 07, EVP, CCO Harris Chad Everett sold 75,565 shares at a price of $4.15 per share. This transaction amounted to $313,595.

Valuation Metrics

RIOT stock has a beta of 4.17. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.49 while the price-to-book (PB) in the most recent quarter is 0.77.

Riot Blockchain Inc.’s quick ratio for the period ended September 29 was 4.50, with the current ratio over the same period at 4.50. In terms of profitability, the gross margin trailing 12 months is 40.50%. The firm’s gross profit as reported stood at $131.15 million against revenue of $213.24 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Riot Blockchain Inc.’s cash and short-term investments amounted to $2.17 million against total debt of $22.21 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 58.05% to -$36.57 million, while revenue of -$366.33 million was -901.72% off the previous quarter. Analysts expected RIOT to announce -$0.02 per share in earnings in its latest quarter, but it posted -$0.24, representing a -1,100.00% surprise. EBITDA for the quarter stood at more than -$11.39 million. RIOT stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 154.25 million, with total debt at $22.21 million. Shareholders hold equity totaling $167.3 million.

Let’s look briefly at Riot Blockchain Inc. (RIOT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 71.81% to suggest the stock is trending Overbought, with historical volatility in this time period at 127.48%.

The stock’s 5-day moving average is $6.12, reflecting a +7.64% or $0.46 change from its current price. RIOT is currently trading +69.19% above its 20-day SMA, -7.03% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +21.58% and SMA200 by-66.30%.

Stochastic %K and %D was 85.76% and 81.45% and the average true range (ATR) pointed at 0.59. The RSI (14) points at 68.55%, while the 14-day stochastic is at 95.50% with the period’s ATR at 0.54. The stock’s 9-day MACD Oscillator is pointing at 0.18 and 0.84 on the 14-day charts.

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