In the last trading session, 16.46 million Riot Platforms Inc (NASDAQ:RIOT) shares changed hands as the company’s beta touched 4.14. With the company’s per share price at $10.48 changed hands at $0.32 or 3.15% during last session, the market valuation stood at $2.16B. RIOT’s last price was a discount, traded about -97.04% off its 52-week high of $20.65. The share price had its 52-week low at $3.25, which suggests the last value was 68.99% up since then. When we look at Riot Platforms Inc’s average trading volume, we note the 10-day average is 25.31 million shares, with the 3-month average coming to 20.58 million.
Analysts gave the Riot Platforms Inc (RIOT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.42. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 0 recommended RIOT as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Riot Platforms Inc’s EPS for the current quarter is expected to be -$0.31.
Riot Platforms Inc (NASDAQ:RIOT) trade information
Instantly RIOT was in green as seen at the end of in last trading. With action 1.16%, the performance over the past five days has been green. The jump to weekly highs of 10.84 on Friday, 11/17/23 added 3.15% to the stock’s daily price. The company’s shares are showing year-to-date upside of 209.14%, with the 5-day performance at 1.16% in the green. However, in the 30-day time frame, Riot Platforms Inc (NASDAQ:RIOT) is 18.82% up. Looking at the short shares, we see there were 36.49 million shares sold at short interest cover period of 1.65 days.
The consensus price target for the stock as assigned by Wall Street analysts is $16.65, meaning bulls need an upside of 37.06% from its current market value. According to analyst projections, RIOT’s forecast low is $7.50 with $22.00 as the target high. To hit the forecast high, the stock’s price needs a -109.92% plunge from its current level, while the stock would need to tank 28.44% for it to hit the projected low.
Riot Platforms Inc (RIOT) estimates and forecasts
Data shows that the Riot Platforms Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -5.42% over the past 6 months, a -114.89% in annual growth rate that is considerably lower than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Riot Platforms Inc will rise 65.60%, while the growth in revenue is estimated to hit 30.30% for the next quarter. Year-over-year growth is forecast to reach 11.50% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $86.67 million. 6 analysts are of the opinion that Riot Platforms Inc’s revenue for the quarter ending Mar 2024 will be $110.25 million. The company’s revenue for the corresponding quarters a year ago was $60.15 million and $73.24 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 44.10%. The estimates for the next quarter sales put growth at 50.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -2.06%. The 2023 estimates are for Riot Platforms Inc earnings to increase by 71.56%, but the outlook for the next 5-year period is at 20.00% per year.
Riot Platforms Inc is expected to release its next quarterly earnings report on November 07.
Riot Platforms Inc (NASDAQ:RIOT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.63% of Riot Platforms Inc shares while 43.11% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 45.21%. There are 43.11% institutions holding the Riot Platforms Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.03% of the shares, roughly 17.93 million RIOT shares worth $211.96 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.06% or 12.04 million shares worth $142.3 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.27 million shares estimated at $62.34 million under it, the former controlled 2.65% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.16% of the shares, roughly 4.29 million shares worth around $50.75 million.