In the last trading session, 22.14 million shares of the Riot Platforms Inc (NASDAQ:RIOT) were traded, and its beta was 4.11. Most recently the company’s share price was $9.64, and it changed around -$0.55 or -5.40% from the last close, which brings the market valuation of the company to $2.93B. RIOT currently trades at a discount to its 52-week high of $18.75, offering almost -94.5% off that amount. The share price’s 52-week low was $6.36, which indicates that the current value has risen by an impressive 34.02% since then. We note from Riot Platforms Inc’s average daily trading volume that its 10-day average is 21.27 million shares, with the 3-month average coming to 17.79 million.
Riot Platforms Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.07. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended RIOT as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Riot Platforms Inc is expected to report earnings per share of -0.16 for the current quarter.
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Riot Platforms Inc (NASDAQ:RIOT) trade information
Instantly RIOT has showed a red trend with a performance of -5.40% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 10.45 on recent trading dayincreased the stock’s daily price by 7.75%. The company’s shares are currently down -37.69% year-to-date, but still down -2.23% over the last five days. On the other hand, Riot Platforms Inc (NASDAQ:RIOT) is 24.07% up in the 30-day period. We can see from the shorts that 50.33 million shares have been sold at a short interest cover period of 2.62 day(s).
The consensus price target as assigned by Wall Street analysts is $15, which translates to bulls needing to increase their stock price by 35.73% from its current value. Analyst projections state that RIOT is forecast to be at a low of $9 and a high of $23.
Riot Platforms Inc (RIOT) estimates and forecasts
Riot Platforms Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -19.20 percent over the past six months and at a 125.00% annual growth rate that is well above the industry average of 18.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 36.00% in revenue this quarter, and will report a decrease of -117.80% in the next quarter. The year-over-year growth rate is expected to be 39.40%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of 95.35M in revenue for the current quarter. 12 analysts expect Riot Platforms Inc to make 140.64M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 51.89M and 78.81M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 83.80%. Forecasts for the next quarter put sales growth at 78.40%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 42.06%. Riot Platforms Inc earnings are expected to increase by 152.87% in 2024, but the outlook is positive 20.00% per year for the next five years.
RIOT Dividends
Riot Platforms Inc’s next quarterly earnings report is expected to be released in November.
Riot Platforms Inc (NASDAQ:RIOT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 7.99% of Riot Platforms Inc shares, and 44.90% of them are in the hands of institutional investors. The stock currently has a share float of 48.80%. Riot Platforms Inc stock is held by 377.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 11.3814% of the shares, which is about 29.54 million shares worth $269.95 million.
BLACKROCK INC., with 8.2764% or 21.48 million shares worth $196.31 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
