During the last session, Riot Platforms Inc (NASDAQ:RIOT)’s traded shares were 42.37 million, with the beta value of the company hitting 4.14. At the end of the trading day, the stock’s price was $12.15, reflecting an intraday loss of -0.98% or -$0.12. The 52-week high for the RIOT share is $18.75, that puts it down -54.32 from that peak though still a striking 47.65% gain since the share price plummeted to a 52-week low of $6.36. The company’s market capitalization is $4.04B, and the average intraday trading volume over the past 10 days was 39.33 million shares, and the average trade volume was 21.77 million shares over the past three months.
Riot Platforms Inc (RIOT) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.20. RIOT has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.08.
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Riot Platforms Inc (NASDAQ:RIOT) trade information
Riot Platforms Inc (RIOT) registered a -0.98% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.98% in intraday trading to $12.15, hitting a weekly high. The stock’s 5-day price performance is -4.10%, and it has moved by 22.48% in 30 days. Based on these gigs, the overall price performance for the year is 7.33%. The short interest in Riot Platforms Inc (NASDAQ:RIOT) is 46.58 million shares and it means that shorts have 2.22 day(s) to cover.
The consensus price target of analysts on Wall Street is $15, which implies an increase of 19.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9 and $23 respectively. As a result, RIOT is trading at a discount of -89.3% off the target high and 25.93% off the low.
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 12.60% during the last six months, with a year-to-date growth rate less than the industry average at -25.00% against 19.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -116.88% this quarter and then drop -115.13% in the quarter after that. In the rating firms’ projections, revenue will increase 29.37% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 128.74M as predicted by 10 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to 146.85M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 78.81M and 79.3M respectively. In this case, analysts expect current quarter sales to grow by 63.35% and then jump by 85.19% 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 27.86% 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 in December. 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 7.30% of total outstanding shares while institutional holders control 40.84%, with the float percentage being 44.06%. VANGUARD GROUP INC is the largest shareholder of the company, while 371.0 institutions own stock in it. As of 2024-06-30, the company held over 29.54 million shares (or 11.3814% of all shares), a total value of $269.95 million in shares.
The next largest institutional holding, with 21.48 million shares, is of BLACKROCK INC.’s that is approximately 8.2764% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $196.31 million.
