Riot Blockchain Inc. [NASDAQ: RIOT] stock went on a downward path that fall over -1.48% on Friday, amounting to a one-week price decrease of less than -7.77%. The company report on November 7, 2022 that Riot Reports Third Quarter 2022 Financial Results, Current Operational and Financial Highlights.
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Riot Reports Q3 2022 Results, with $46.3 Million in Total Revenue, 1,042 Bitcoin Produced, $13.1 million in Power Credits, and Record Hash Rate Capacity.
Over the last 12 months, RIOT stock dropped by -86.49%. The one-year Riot Blockchain Inc. stock forecast points to a potential upside of 53.2. The average equity rating for RIOT stock is currently 1.80, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $906.68 million, with 153.90 million shares outstanding and 153.57 million shares in the current float. Compared to the average trading volume of 12.19M shares, RIOT stock reached a trading volume of 18077427 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Riot Blockchain Inc. [RIOT]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIOT shares is $11.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIOT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Riot Blockchain Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on September 29, 2022. The new note on the price target was released on June 28, 2022, representing the official price target for Riot Blockchain Inc. stock. Previously, the target price had yet another drop from $45 to $39, while Compass Point kept a Neutral rating on RIOT stock.
The Average True Range (ATR) for Riot Blockchain Inc. is set at 0.56, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 3.13. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 2.25.
RIOT Stock Performance Analysis:
Riot Blockchain Inc. [RIOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.77. With this latest performance, RIOT shares dropped by -16.43% in over the last four-week period, additionally sinking by -33.00% over the last 6 months – not to mention a drop of -86.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIOT stock in for the last two-week period is set at 40.60, with the RSI for the last a single of trading hit 39.30, and the three-weeks RSI is set at 41.98 for Riot Blockchain Inc. [RIOT]. The present Moving Average for the last 50 days of trading for this stock 6.53, while it was recorded at 5.35 for the last single week of trading, and 9.97 for the last 200 days.
Insight into Riot Blockchain Inc. Fundamentals:
Riot Blockchain Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.50 and a Current Ratio set at 4.50.
RIOT Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIOT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Riot Blockchain Inc. go to 20.00%.
Riot Blockchain Inc. [RIOT] Insider Position Details
There are presently around $278 million, or 32.70% of RIOT stock, in the hands of institutional investors. The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 11,369,127, which is approximately 8.997% of the company’s market cap and around 7.00% of the total institutional ownership; BLACKROCK INC., holding 8,225,205 shares of the stock with an approximate value of $43.92 million in RIOT stocks shares; and STATE STREET CORP, currently with $15.06 million in RIOT stock with ownership of nearly 14.067% of the company’s market capitalization.
125 institutional holders increased their position in Riot Blockchain Inc. [NASDAQ:RIOT] by around 12,652,363 shares. Additionally, 78 investors decreased positions by around 4,160,560 shares, while 56 investors held positions by with 35,243,199 shares. The mentioned changes placed institutional holdings at 52,056,122 shares, according to the latest SEC report filing. RIOT stock had 44 new institutional investments in for a total of 3,209,741 shares, while 35 institutional investors sold positions of 1,403,461 shares during the same period.