As of Thursday close, Riot Platforms Inc.’s (NASDAQ:RIOT) stock was down -$1.39, moving down -10.61 percent to $11.71. The average number of shares traded per day over the past five days has been 18,807,719 shares. 1 time new highs have been achieved over the past 5 days, with a -$3.29 fall in that time frame. In the last twenty days, the average volume was 18,735,555, while in the previous 50 days, it was 22,792,223.
Since last month, RIOT stock retreated -38.14%. Shares of the company fell to $11.65 on 08/17/23, the lowest level in the past month. A 52-week high of $20.65 was reached on 07/14/23 after having rallying from a 52-week low of $3.25. Since the beginning of this year, RIOT’s stock price has risen by 245.43% or $8.32, and marked a new high 33 times. However, the stock has declined by -43.29% since its 52-week high.
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RIOT stock investors should be aware that Riot Platforms Inc. (RIOT) stock had its last reported insider trading activity 32 days ago on Jul 17. D’Ambrosio Lance Varro, the Director of the company, disposed of 26,000 shares for $19.16 on Jul 17. It resulted in a $498,160 divestment by the insider. Yi Soo il Benjamin sold 485,884 shares at an average price of $11.78 on Jun 02. The insider now owns 2,830,884 shares following the transaction. On Jun 02, EVP, GENERAL COUNSEL Jackman William Richard sold 371,471 shares at $12.13 apiece. The transaction was valued at $4,505,943.
Valuation Metrics
The stock’s beta is 4.31. Besides these, the trailing price-to-sales (P/S) ratio of 8.01, the price-to-book (PB) ratio of 1.58.
Financial Health
In the three months ended June 29, Riot Platforms Inc.’s quick ratio stood at 6.50, while its current ratio was 6.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 11.50% percent. Based on annual data, RIOT earned $65.47 million in gross profit and brought in $259.17 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -43.50%. Return on equity (ROE) for the past 12 months was -23.10%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Riot Platforms Inc. to report -$0.21 quarterly earnings, the actual figure was -$0.17 per share, beating the consensus estimate by 19.00%. During the quarter, the company generated $33.07 million in EBITDA. The liabilities of Riot Platforms Inc. were 118.02 million at the end of its most recent quarter ended June 29, and its total debt was $22.75 million. The value of shareholders’ equity is $185.31 million.
Technical Picture
This quick technical analysis looks at Riot Platforms Inc.’s (RIOT) price momentum. With a historical volatility rate of 54.24%, the RSI 9-day stood at 18.60% on 17 August.
With respect to its five-day moving average, the current Riot Platforms Inc. price is down by -21.93% percent or -$3.29. At present, RIOT shares trade -36.60% below its 20-day simple moving average and +35.69% percent above its 100-day simple moving average. However, the stock is currently trading approximately +7.43% above its SMA50 and +66.10% above its SMA200.
Stochastic coefficient K was 1.42% and Stochastic coefficient D was 3.79%, while ATR was 1.24. Given the Stochastic reading of 0.73% for the 14-day period, the RSI (14) reading has been calculated as 28.42%. As of today, the MACD Oscillator reading stands at -1.96, while the 14-day reading stands at -3.08.
Analyst Ratings
Needham launched its rating on Riot Platforms Inc. (NASDAQ: RIOT) to a Buy in a note to investors on February 21, 2023. Riot Platforms Inc. (RIOT) has been rated Buy by analysts. According to 0 brokerage firms, RIOT is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Riot Platforms Inc. stock as buy, with 10 recommending it as overweight.
With a median target price of $19.00, the current consensus forecast for the stock is $13.25 – $23.00. Based on these forecasts, analysts predict Riot Platforms Inc. (RIOT) will achieve an average price target of $19.08.
