During the recent session, Riot Platforms Inc (NASDAQ:RIOT)’s traded shares were 4.78 million, with the beta value of the company hitting 4.20. At the last check today, the stock’s price was $10.34, reflecting an intraday gain of 1.42% or $0.15. The 52-week high for the RIOT share is $20.65, that puts it down -99.71 from that peak though still a striking 16.83% gain since the share price plummeted to a 52-week low of $8.60. The company’s market capitalization is $2.62B, and the average intraday trading volume over the past 10 days was 20.78 million shares, and the average trade volume was 26.68 million shares over the past three months.
Riot Platforms Inc (NASDAQ:RIOT) trade information
Riot Platforms Inc (RIOT) registered a 1.42% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.42% in intraday trading to $10.34, hitting a weekly high. The stock’s 5-day price performance is -15.56%, and it has moved by -14.73% in 30 days. Based on these gigs, the overall price performance for the year is 8.11%. The short interest in Riot Platforms Inc (NASDAQ:RIOT) is 33.66 million shares and it means that shorts have 1.18 day(s) to cover.
Riot Platforms Inc (RIOT) estimates and forecasts
Statistics show that Riot Platforms Inc has underperformed its competitors in share price, compared to the industry in which it operates. Riot Platforms Inc (RIOT) shares have gone up 14.01% during the last six months, with a year-to-date growth rate less than the industry average at -50.00% against 16.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 57.60% this quarter and then jump 11.80% in the quarter after that. In the rating firms’ projections, revenue will increase 72.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $98.43 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $98.85 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $73.24 million and $76.74 million respectively. In this case, analysts expect current quarter sales to grow by 34.40% and then jump by 28.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 42.06%. While earnings are projected to return -116.05% in 2024, the next five years will return 20.00% per annum.
RIOT Dividends
Riot Platforms Inc is due to release its next quarterly earnings between May 08 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Riot Platforms Inc (NASDAQ:RIOT)’s Major holders
Riot Platforms Inc insiders own 8.24% of total outstanding shares while institutional holders control 41.86%, with the float percentage being 45.62%. Vanguard Group Inc is the largest shareholder of the company, while 387 institutions own stock in it. As of Jun 29, 2023, the company held over 17.93 million shares (or 9.03% of all shares), a total value of $211.96 million in shares.
The next largest institutional holding, with 12.04 million shares, is of Blackrock Inc.’s that is approximately 6.06% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $142.3 million.
Also, the Mutual Funds coming in first place with the largest holdings of Riot Platforms Inc (RIOT) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 5.27 million shares. This amounts to just over 2.65 percent of the company’s overall shares, with a $62.34 million market value. The same data shows that the other fund manager holds slightly less at 4.29 million, or about 2.16% of the stock, which is worth about $50.75 million.
