A share price of Riot Platforms Inc [RIOT] is currently trading at $12.40, up 11.81%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The RIOT shares have gain 5.71% over the last week, with a monthly amount drifted -22.69%, and not seem to be holding up well over a long-time horizon.
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On 12, March 2024, Reformed Energy, a Waste-to-Energy Company, Secures Strategic Investment from Riot Platforms. In a post published today on Yahoo Finance, This strategic investment will seed the development of a pilot site, while also accelerating the long term objective of being the premier platform for turning the world’s waste into fuels and power. .
From an analyst’s perspective:
Riot Platforms Inc [NASDAQ: RIOT] stock has seen the most recent analyst activity on December 08, 2023, when JP Morgan upgraded its rating to a Neutral and also boosted its price target to $12 from $8. Previously, Bernstein started tracking the stock with Outperform rating on October 31, 2023, and set its price target to $15.60. On October 11, 2023, JP Morgan initiated with a Underweight rating and assigned a price target of $6.50 on the stock. Needham started tracking the stock assigning a Buy rating and suggested a price target of $9 on February 21, 2023. Wells Fargo started tracking with a Equal Weight rating for this stock on September 29, 2022, and assigned it a price target of $7. In a note dated June 28, 2022, Compass Point upgraded an Buy rating on this stock but restated the target price of $14.
Riot Platforms Inc experienced fluctuations in its stock price throughout the past year between $7.66 and $20.65. Currently, Wall Street analysts expect the stock to reach $10.5 within the next 12 months. Riot Platforms Inc [NASDAQ: RIOT] shares were valued at $12.40 at the most recent close of the market. An investor can expect a potential drop of -15.32% based on the average RIOT price forecast.
Analyzing the RIOT fundamentals
Trailing Twelve Months sales for Riot Platforms Inc [NASDAQ:RIOT] were 280.68M which represents 31.03% growth. Gross Profit Margin for this corporation currently stands at 0.09% with Operating Profit Margin at -0.24%, Pretax Profit Margin comes in at -0.19%, and Net Profit Margin reading is -0.18%. To continue investigating profitability, this company’s Return on Assets is posted at -0.02, Equity is -0.04 and Total Capital is -0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.59 points at the first support level, and at 10.78 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.82, and for the 2nd resistance point, it is at 13.24.
Riot Platforms Inc [RIOT] reported earnings per share of $0.45 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.28/share, meaning a difference of $0.73 and a surprise factor of 260.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.25 per share as compared to estimates of -$0.2 per share, a difference of -$0.05 representing a surprise of -25.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Riot Platforms Inc [NASDAQ:RIOT] is 8.33. As well, the Quick Ratio is 8.33, while the Cash Ratio is 4.93. Considering the valuation of this stock, the price to sales ratio is 11.20, the price to book ratio is 1.52.
Transactions by insiders
Recent insider trading involved Werner Ryan D., SVP, CAO, that happened on Mar 15 ’24 when 35000.0 shares were sold. Director, Cho Hannah completed a deal on Feb 28 ’24 to sell 15000.0 shares. Meanwhile, EVP, GENERAL COUNSEL Jackman William Richard sold 57000.0 shares on Dec 08 ’23.
