The stock of Riot Platforms Inc. (NASDAQ:RIOT) decreased by -$0.57 on Monday to finish at $14.66, down -3.74 percent. The last five days have seen an average of 18,399,541 shares of common stock traded. 33 times new highs were reached in the current year, with a gain of $11.27. The average number of shares traded over the last 20 days was 19,331,109, while the average volume over the last 50 days totaled 23,395,326.
RIOT stock dropped -23.33% since last month. On 08/14/23, the company’s shares reached a one-month low of $14.36. The stock touched a high of $20.65 on 07/14/23, after rallying from a low of $3.25 in 52 weeks. The price of RIOT stock has risen by 332.45% or $11.27 this year, reaching a new high 33 times. Still, the stock price is down -29.01% from the 52-week high.
Insider Transactions
RIOT stock investors should be aware that Riot Platforms Inc. (RIOT) stock had its last reported insider trading activity 29 days ago on Jul 17. On Jul 17, Director D’Ambrosio Lance Varro sold 26,000 shares at $19.16 each. This transaction resulted in the insider making $498,160. On Jun 02, Yi Soo il Benjamin sold 485,884 shares at a price of US$11.78. After the transaction, the insider now owns 2,830,884 shares. EVP, GENERAL COUNSEL Jackman William Richard had earlier sold 371,471 shares on Jun 02 for $12.13 a share. The transaction was completed for $4,505,943.
Valuation Metrics
Beta for the stock is 4.29. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 10.03, the price-to-book (PB) ratio of 1.98.
Financial Health
For the three months ended June 29, Riot Platforms Inc.’s quick ratio was 6.50, while its current ratio was 6.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 11.50% percent. Based on annual data, it had gross profit of $65.47 million and revenue of $259.17 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RIOT’s return on assets (ROA) during the last 12 months has been -20.50%. There was a -43.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -23.10%.
Earnings Surprise
According to Riot Platforms Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Riot Platforms Inc.’s quarterly earnings would be -$0.17, but it ended up being -$0.21, beating the consensus by 19.00%. EBITDA was $33.07 million for the quarter. At the end of Riot Platforms Inc.’s most recent quarter ended June 29, its liabilities totaled 118.02 million, while its total debt was $22.75 million. Equity owned by shareholders amounts to $185.31 million.
Technical Picture
Here’s a quick look at Riot Platforms Inc.’s (RIOT) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 31.18%, suggesting the stock is Neutral, with a 54.08% historical volatility rate.
The stochastic %K and %D were 7.81% and 15.56% respectively, while the average true range (ATR) was 1.27. Based on the 14-day stochastic reading of 6.19%, the RSI (14) reading is 39.72%. On the 9-day MACD Oscillator, the stock is at -1.43, and the 14-day reading is at -2.09.
Analyst Ratings
In its analyst report released on February 21, 2023, Needham began covering Riot Platforms Inc. (NASDAQ: RIOT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Riot Platforms Inc. (RIOT) an Buy rating. RIOT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 10 others recommend it as a buy.
What is RIOT’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.25 and $23.00, with a median target price of $19.00. In analyzing these forecasts, the average price target given by analysts for Riot Platforms Inc. (RIOT) is $19.08.
