The price of Riot Platforms Inc (NASDAQ:RIOT) shares last traded on Wall Street fell -11.43% to $14.02.
Based on available information, 11 analysts follow Riot Platforms Inc (NASDAQ:RIOT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $22.50 and a low of $12.00, we find $19.00. Given the previous closing price of $15.83, this indicates a potential upside of 20.03 percent. RIOT stock price is now 29.41% away from the 50-day moving average and 22.78% away from the 200-day moving average. The market capitalization of the company currently stands at $2.90B.
Among analysts, 1 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $18.60 as their price target over the next twelve months.
With the price target enhanced from $8 to $12, JP Morgan Upgraded its rating from Underweight to Neutral 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 $0.39 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 $0.19 million. Insiders disposed of 3,381,531 shares of company stock worth roughly $47.41 million over the past 1 year. A total of 5.03% of the company’s stock is owned by insiders.
A candlestick chart of Riot Platforms Inc (NASDAQ: RIOT) showed a price of $14.84 on Monday morning. 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 7.22, and a quick ratio of 7.22. The fifty day moving average price for RIOT is $10.83 and a two-hundred day moving average price translates $11.42 for the stock.
The latest earnings results from Riot Platforms Inc (NASDAQ: RIOT) was released for Sep, 2023. According to the Capital Markets Company, earnings per share came in at -$0.25, missing analysts’ expectations of -$0.2 by -0.05. This compares to -$0.21 EPS in the same period last year. The net profit margin was -108.57% and return on equity was -21.55% for RIOT. The company reported revenue of $51.89 million for the quarter, compared to $46.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.1 percent. For the current quarter, analysts expect RIOT to generate $88.84M 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.
