Why Investing In Riot Platforms Inc (NASDAQ:RIOT) Now May Be A Good Investment

Riot Platforms Inc (NASDAQ:RIOT) traded at $11.60 at last check on Wednesday, July 24, made an upward move of 0.13% on its previous day’s price.

Looking at the stock we see that its previous close was $11.59 . The company has a trailing 12-month PE ratio of 15.80. In terms of its 52-week price range, RIOT has a high of $19.20 and a low of $7.80. The company’s stock has gained about 26.00% over that past 30 days.

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Riot Platforms Inc has a market cap of $3.35 billion.

Based on estimates by 9 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Riot Platforms Inc (RIOT) stock as a Hold, while 8 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the RIOT stock currently stands at 0.79, and the most recent price level today is 12.89% off its SMA20 and 14.00% from its 50-day simple moving average. The RSI (14) is pointing at 57.32 while the volatility over the past week is 11.28% and jumps to 7.55% over the past one month. The beta value is 4.16, while the average true range (ATR) is currently pointing at 0.89. The average price target for the stock over the next 12 months is $15, with the estimates having a low of $9 and a high of $23. These price ends are 22.41% and -98.28% off the today’s price level respectively, although investors could be excited at the prospect of a -29.31% if the RIOT share price touches on the median price of $15.

Coming back to Riot Platforms Inc (NASDAQ:RIOT), we note that the average 3-month trading volume was 23.45 million, while that of the preceding 10-day period stands at 29.21 million. Current shares outstanding are 288.79 million.

The insiders hold 8.49% of the company’s shares while institutions hold 41.59%. The data shows that short shares as of 2024-06-28, stood at 61.72 million at a short ratio of 2.65. This represents a 21.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.6121.61 short interest in shares outstanding on 2024-06-28. Shares short rose in June from the previous month at 50.14 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -24.98% down in year-to-date price movement.

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