Riot Platforms Inc (NASDAQ:RIOT) shares, rose in value on Thursday, April 04, with the stock price up by 3.45% to the previous day’s close as strong demand from buyers drove the stock to $10.65.
Actively observing the price movement in the recent trading, the stock is buoying the session at $10.29. The value of beta (5-year monthly) is 4.28. Referring to stock’s 52-week performance, its high was $20.65, and the low was $8.60. On the whole, RIOT has fluctuated by -13.10% over the past month.
With the market capitalization of Riot Platforms Inc currently standing at about $2.70 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to $0.22 for fiscal year -$0.35 and then to about $0.49 by fiscal year 2025. Data indicates that the EPS growth is expected to be -25.00% in 2025, while the next year’s EPS growth is forecast to be 240.00%.
Analysts have estimated the company’s revenue for the quarter at $98.43 million, with a low estimate of $85.5 million and a high estimate of $124.1 million. According to the average forecast, sales growth in current quarter could jump up 34.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $482.87 million, representing an increase of 72.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RIOT’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RIOT currently trading nearly -8.92% and -16.88% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.32, while the 7-day volatility ratio is showing 6.36% which for the 30-day chart, stands at 7.51%. Furthermore, Riot Platforms Inc (RIOT)’s beta value is 4.20, and its average true range (ATR) is 0.99.
A comparison of Riot Platforms Inc (RIOT) with its peers suggests the former has fared considerably weaker in the market. RIOT showed an intraday change of 3.45% in today’s session so far, and over the past year, it grew by 10.08%%.
Data on historical trading for Riot Platforms Inc (NASDAQ:RIOT) indicates that the trading volumes over the past 10 days have averaged 21.46 million and over the past 3 months, they’ve averaged 26.76 million. According to company’s latest data on outstanding shares, there are 230.84 million shares outstanding.
Nearly 10.11% of Riot Platforms Inc’s shares belong to company insiders and institutional investors own 40.94% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 33.66 million shares as on Mar 15, 2024, resulting in a short ratio of 1.18. According to the data, the short interest in Riot Platforms Inc (RIOT) stood at 13.28% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 31.07 million. The stock has fallen by -31.19% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIOT stock heading into the next quarter.
