At the last check on Thursday, Riot Platforms Inc.’s (NASDAQ:RIOT) stock was down -$0.65, moving down -5.39 percent to $11.40. The average number of shares traded per day over the past five days has been 19,991,727 shares. 3 times new highs have been achieved over the past 5 days, with a $1.04 gain in that time frame. In the last twenty days, the average volume was 18,395,182, while in the previous 50 days, it was 23,070,348.
Since last month, RIOT stock retreated -36.56%. Shares of the company fell to $10.06 on 08/25/23, 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 236.28% or $8.01, and marked a new high 33 times. However, the stock has declined by -44.79% 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 14 days ago on Aug 17. Marleau Hubert, the Director of the company, disposed of 51,165 shares for $12.28 on Aug 17. It resulted in a $628,306 divestment by the insider. D’Ambrosio Lance Varro sold 26,000 shares at an average price of $19.16 on Jul 17. The insider now owns 13,441 shares following the transaction. On Jun 02, EXECUTIVE CHAIRMAN Yi Soo il Benjamin sold 485,884 shares at $11.78 apiece. The transaction was valued at $5,724,383.
Valuation Metrics
The stock’s beta is 4.31. Besides these, the trailing price-to-sales (P/S) ratio of 8.23, the price-to-book (PB) ratio of 1.54.
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 119.54%, the RSI 9-day stood at 39.14% on 30 August.
With respect to its five-day moving average, the current Riot Platforms Inc. price is up by +10.04% percent or $1.04. At present, RIOT shares trade -35.99% below its 20-day simple moving average and +7.75% percent above its 100-day simple moving average. However, the stock is currently trading approximately -2.40% below its SMA50 and +113.48% above its SMA200.
Stochastic coefficient K was 32.04% and Stochastic coefficient D was 23.96%, while ATR was 1.03. Given the Stochastic reading of 26.80% for the 14-day period, the RSI (14) reading has been calculated as 38.48%. As of today, the MACD Oscillator reading stands at 0.88, while the 14-day reading stands at 0.23.
With a median target price of $19.00, the current consensus forecast for the stock is $16.50 – $23.00. Based on these forecasts, analysts predict Riot Platforms Inc. (RIOT) will achieve an average price target of $19.44.
