There is little time left for Riot Platforms Inc (RIOT) to reach its 1-year target estimate. How soon will it surpass it?

The stock of Riot Platforms Inc (NASDAQ:RIOT) last traded at $11.01, down -3.34% from the previous session.

Data from the available sources indicates that Riot Platforms Inc (NASDAQ:RIOT) is covered by 12 analysts. 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 $7.50, we find $17.00. Given the previous closing price of $11.39, this indicates a potential upside of 49.25 percent. RIOT stock price is now 9.22% away from the 50-day moving average and 2.61% away from the 200-day moving average. The market capitalization of the company currently stands at $2.19B.

In total, 0 analysts have assigned it 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 $15.60, Bernstein recently initiated with Outperform 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 $0.31 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 $0.15 million. Insiders disposed of 3,457,096 shares of company stock worth roughly $38.06 million over the past 1 year. A total of 5.40% of the company’s stock is owned by insiders.

With an opening price of $11.63 on Monday morning, Riot Platforms Inc (NASDAQ: RIOT) set off the trading day. 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 $10.08 and a two-hundred day moving average price translates $10.73 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.

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.

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