In the latest trading session, 7.73 million Riot Platforms Inc (NASDAQ:RIOT) shares changed hands as the company’s beta touched 4.20. With the company’s most recent per share price at $10.87 changed hands at -$0.68 or -5.86% at last look, the market valuation stands at $3.73B. RIOT’s current price is a discount, trading about -72.49% off its 52-week high of $18.75. The share price had its 52-week low at $6.36, which suggests the last value was 41.49% up since then. When we look at Riot Platforms Inc’s average trading volume, we note the 10-day average is 52.68 million shares, with the 3-month average coming to 30.45 million.
Analysts gave the Riot Platforms Inc (RIOT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.29. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended RIOT as a Hold, 7 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.
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Riot Platforms Inc (NASDAQ:RIOT) trade information
Instantly RIOT was in red as seen in intraday trades today. With action -22.50%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -29.72%, with the 5-day performance at -22.50% in the red. However, in the 30-day time frame, Riot Platforms Inc (NASDAQ:RIOT) is -7.54% down. Looking at the short shares, we see there were 44.07 million shares sold at short interest cover period of 1.31 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9, meaning bulls need a downside of -20.78% from its recent market value. According to analyst projections, RIOT’s forecast low is 7.5 with 10.5 as the target high. To hit the forecast high, the stock’s price needs a 3.4% surge from its current level, while the stock would need to tank 31.0% 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 18.18% over the past 6 months, a -25.00% in annual growth rate that is considerably lower than the industry average of 16.10%. Year-over-year growth is forecast to reach 30.96% up from the last financial year.
Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of 132.84M. 11 analysts are of the opinion that Riot Platforms Inc’s revenue for the current quarter will be 157.65M. The company’s revenue for the corresponding quarters a year ago was 78.81M and 79.3M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 68.55%. The estimates for the next quarter sales put growth at 98.81%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 42.06%. The 2024 estimates are for Riot Platforms Inc earnings to decrease by -4.43%, but the outlook for the next 5-year period is at 20.00% per year.
RIOT Dividends
Riot Platforms Inc is expected to release its next quarterly earnings report in January.
Riot Platforms Inc (NASDAQ:RIOT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.05% of Riot Platforms Inc shares while 39.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.86%. There are 39.84% institutions holding the Riot Platforms Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 11.3814% of the shares, roughly 29.54 million RIOT shares worth $269.95 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 8.2764% or 21.48 million shares worth $196.31 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 8.99 shares estimated at $96.99 million under it, the former controlled 2.70% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.21% of the shares, roughly 7.34 shares worth around $79.15 million.
