Riot Platforms Inc (NASDAQ:RIOT) shares, rose in value, with the stock price down by -11.83% to the previous day’s close as strong demand from buyers drove the stock to $9.24.
Actively observing the price movement in the last trading, the stock closed the session at $10.48, falling within a range of $9.1 and $10.23. The value of beta (5-year monthly) was 4.102 whereas the PE ratio was 15.91 over 12-month period. Referring to stock’s 52-week performance, its high was $18.75, and the low was $6.36. On the whole, RIOT has fluctuated by 27.45% over the past month.
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With the market capitalization of Riot Platforms Inc currently standing at about $2.80 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 391.18M, with a low estimate of 84.4M and a high estimate of 111M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 95.35M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that RIOT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy 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 0.80, with the price of RIOT currently trading nearly 0.33% and 14.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.58, while the 7-day volatility ratio is showing 7.24% which for the 30-day chart, stands at 6.10%. Furthermore, Riot Platforms Inc (RIOT)’s beta value is 4.11, and its average true range (ATR) is 0.62.
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 -11.83% in last session, and over the past year, it shrunk by -5.52%%.
Data on historical trading for Riot Platforms Inc (NASDAQ:RIOT) indicates that the trading volumes over the past 10 days have averaged 23.22 and over the past 3 months, they’ve averaged 18.24 million. According to company’s latest data on outstanding shares, there are 303.52 million shares outstanding.
Nearly 8.06% of Riot Platforms Inc’s shares belong to company insiders and institutional investors own 43.96% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 50.33 million shares as on 2024-10-15, resulting in a short ratio of 2.62. According to the data, the short interest in Riot Platforms Inc (RIOT) stood at 1676.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 48.71 million. The stock has fallen by -40.27% 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.
