Riot Platforms Inc (NASDAQ:RIOT) has a beta value of 4.14 and has seen 26.73 million shares traded in the last trading session. The company, currently valued at $4.20B, closed the last trade at $12.06 per share which meant it lost -$0.25 on the day or -2.03% during that session. The RIOT stock price is -55.47% off its 52-week high price of $18.75 and 47.26% above the 52-week low of $6.36. If we look at the company’s 10-day average daily trading volume, we find that it stood at 40.45 million shares traded. The 3-month trading volume is 23.05 million shares.
The consensus among analysts is that Riot Platforms Inc (RIOT) is Buy stock at the moment, with a recommendation rating of 1.20. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 8 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.
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Riot Platforms Inc (NASDAQ:RIOT) trade information
Sporting -2.03% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the RIOT stock price touched $12.06 or saw a rise of 8.15%. Year-to-date, Riot Platforms Inc shares have moved -22.04%, while the 5-day performance has seen it change -0.82%. Over the past 30 days, the shares of Riot Platforms Inc (NASDAQ:RIOT) have changed 25.10%. Short interest in the company has seen 46.58 million shares shorted with days to cover at 2.22.
Wall Street analysts have a consensus price target for the stock at $15, which means that the shares’ value could jump 19.6% from current levels. The projected low price target is $9.0 while the price target rests at a high of $23.0. In that case, then, we find that the current price level is -90.71% off the targeted high while a plunge would see the stock lose 25.37% from current levels.
Riot Platforms Inc (RIOT) estimates and forecasts
Figures show that Riot Platforms Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 16.63% over the past 6 months, with this year growth rate of -25.00%, compared to 18.50% for the industry. Revenue growth from the last financial year stood is estimated to be 29.58%.
11 analysts offering their estimates for the company have set an average revenue estimate of 129.49M for the current quarter. 9 have an estimated revenue figure of 146.85M for the next ending quarter. Year-ago sales stood 78.81M and 79.3M respectively for this quarter and the next, and analysts expect sales will grow by 64.30% for the current quarter and 29.58% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 42.06% over the past 5 years. Earnings growth for 2024 is a modest 27.86% while over the next 5 years, the company’s earnings are expected to increase by 20.00%.
RIOT Dividends
Riot Platforms Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Riot Platforms Inc (NASDAQ:RIOT)’s Major holders
Insiders own 7.30% of the company shares, while shares held by institutions stand at 40.98% with a share float percentage of 44.20%. Investors are also buoyed by the number of investors in a company, with Riot Platforms Inc having a total of 373.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 29.54 million shares worth more than $269.95 million. As of 2024-06-30, VANGUARD GROUP INC held 11.3814% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 21.48 million shares as of 2024-06-30. The firm’s total holdings are worth over $196.31 million and represent 8.2764% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF . As of Jun 30, 2024 , the former fund manager holds about 2.48% shares in the company for having 8.26 shares of worth $99.56 million while later fund manager owns 7.42 shares of worth $89.43 million as of Sep 30, 2024 , which makes it owner of about 2.23% of company’s outstanding stock.
