Stocks of Riot Platforms Inc (NASDAQ:RIOT) traded higher last session on Wall Street, up 9.02% to $9.67.
According to the data, Riot Platforms Inc (NASDAQ:RIOT) has 11 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $6.50, we find $17.50. Given the previous closing price of $8.87, this indicates a potential upside of 97.29 percent. RIOT stock price is now -7.68% away from the 50-day moving average and -7.82% away from the 200-day moving average. The market capitalization of the company currently stands at $1.92B.
A total of 0 analysts have issued a hold rating and 10 have given it a buy rating. Brokers who have rated the stock have averaged $16.65 as their price target over the next twelve months.
With the price target of $6.50, JP Morgan recently initiated with Underweight rating for Riot Platforms Inc (NASDAQ: RIOT).
In other news, Marleau Hubert, Director sold 51,165 shares of the company’s stock on Aug 17. The stock was sold for $628,306 at an average price of $12.28. Upon completion of the transaction, the Director now directly owns 27,860 shares in the company, valued at $0.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 17, Director D’Ambrosio Lance Varro sold 26,000 shares of the business’s stock. A total of $498,160 was realized by selling the stock at an average price of $19.16. This leaves the insider owning 13,441 shares of the company worth $0.13 million. Insiders disposed of 3,483,096 shares of company stock worth roughly $33.68 million over the past 1 year. A total of 5.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RIOT stock. A new stake in Riot Platforms Inc shares was purchased by AZORA CAPITAL LP during the first quarter worth $4,592,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $2,715,000 in shares of RIOT during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Riot Platforms Inc valued at approximately $2,080,000. GTS SECURITIES LLC acquired a new stake in RIOT for approximately $1,559,000. CRESSET ASSET MANAGEMENT, LLC purchased a new stake in RIOT valued at around $1,488,000 in the second quarter. In total, there are 315 active investors with 35.55% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $9.12 for Riot Platforms Inc (NASDAQ: RIOT). During the past 12 months, Riot Platforms Inc has had a low of $3.25 and a high of $20.65. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 6.49, and a quick ratio of 6.49. The fifty day moving average price for RIOT is $10.48 and a two-hundred day moving average price translates $10.49 for the stock.
The latest earnings results from Riot Platforms Inc (NASDAQ: RIOT) was released for Jun, 2023. According to the Capital Markets Company, earnings per share came in at -$0.17, beating analysts’ expectations of -$0.21 by 0.04. This compares to -$2.71 EPS in the same period last year. The net profit margin was -107.53% and return on equity was -21.80% for RIOT. The company reported revenue of $76.74 million for the quarter, compared to $72.95 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.2 percent. For the current quarter, analysts expect RIOT to generate $77.5M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/18/2017. Investors who held shares on 10/13/2017 were paid a $1.00 dividend.
Riot Platforms Inc(RIOT) Company Profile
Riot Platforms, Inc., together with its subsidiaries, operates as a bitcoin mining company in North America. It operates through Bitcoin Mining, Data Center Hosting, and Engineering segments. The company also provides co-location services for institutional-scale bitcoin mining companies; and critical infrastructure and workforce for institutional-scale miners to deploy and operate their miners. In addition, it engages in the design and manufacturing of power distribution equipment and custom engineered electrical products; electricity distribution product design, manufacture, and installation services primarily focused on large-scale commercial and governmental customers, as well as a range of markets, including data center, power generation, utility, water, industrial, and alternative energy; operation of data centers; and maintenance/management of computing capacity. The company was formerly known as Riot Blockchain, Inc. Riot Platforms, Inc. was incorporated in 1998 and is based in Castle Rock, Colorado.
