Riot Platforms Inc. (NASDAQ:RIOT) finished Thursday with a subtraction of -$0.76 to close at $10.36, a downside of -6.83 percent. An average of 16,860,201 shares of common stock have been traded in the last five days. There was a fall of -$1.35 in the past week, and it reached a new high 21 times over the past 12 months. The last 20 days have seen an average of 18,227,150 shares traded, while the 50-day average volume stands at 23,257,992.
RIOT stock has decreased by -43.85% in the last month. The company shares reached their 1-month lowest point of $10.20 on 08/24/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $3.25 and a high of $20.65 in 52 weeks. It has reached a new high 33 times so far this year and achieved 205.60% or $6.97 in price. In spite of this, the price is down -49.83% 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 8 days ago on Aug 17. In this transaction, the insider spent $628,306. Director, D’Ambrosio Lance Varro, disposed of 26,000 shares at a price of $19.16 on Jul 17. The insider now owns more than $498,160 worth of shares. Prior to that, EXECUTIVE CHAIRMAN Yi Soo il Benjamin went on to Sale 485,884 shares at $11.78 each on Jun 02. An amount of $5,724,383 was transacted.
Valuation Metrics
Riot Platforms Inc. (RIOT) stock’s beta is 4.34. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.92, the price-to-book (PB) ratio at 1.40.
Financial Health
The quick ratio of Riot Platforms Inc. for the three months ended June 29 was 6.50, and the current ratio was 6.50, 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 $65.47 million compared to revenue of $259.17 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 Platforms Inc.’s return on assets was -20.50%.
Earnings Surprise
The analyst consensus anticipated Riot Platforms Inc.’s latest quarter earnings to come in at -$0.21 per share, but it turned out to be -$0.17, a 19.00% surprise. For the quarter, EBITDA amounted to $33.07 million. Shareholders own equity worth $185.31 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Riot Platforms Inc. (RIOT) price momentum. RSI 9-day as of the close on 24 August was 20.79%, suggesting the stock is oversold, with historical volatility in this time frame at 55.96%.
As of today, RIOT’s price is $10.77 -11.53% or -$1.35 from its 5-day moving average. RIOT is currently trading -41.14% lower than its 20-day SMA and +3.70% higher than its 100-day SMA. However, the stock’s current price level is +0.97% above the SMA50 and +78.93% above the SMA200.
The stochastic %K and %D were 3.94% and 3.10%, respectively, and the average true range (ATR) was 1.03. With the 14-day stochastic at 2.23% and the average true range at 1.10, the RSI (14) stands at 27.37%. The stock has reached -1.21 on the 9-day MACD Oscillator while the 14-day reading was at -2.68.
Analyst Ratings
Needham launched coverage on Riot Platforms Inc. (NASDAQ: RIOT) in its analyst report released on February 21, 2023. The firm assigned the stock a Buy rating. The consensus rating for Riot Platforms Inc. (RIOT) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RIOT, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 10 others rate it as a “buy”.
What is RIOT’s price target for the next 12 months?
Analysts predict a range of price targets between $16.50 and $23.00, with a median target of $19.00. Taking a look at these predictions, the average price target given by analysts for Riot Platforms Inc. (RIOT) stock is $19.44.
