Riot Platforms Inc [RIOT] stock Upgrade by JP Morgan analyst, price target now $12

Riot Platforms Inc [NASDAQ: RIOT] loss -0.48% on the last trading session, reaching $16.45 price per share at the time. The company report on February 5, 2024 at 9:00 AM that Riot Announces January 2024 Production and Operations Updates.

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If compared to the average trading volume of 29.91M shares, RIOT reached a trading volume of 21504433 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Riot Platforms Inc [RIOT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIOT shares is $19.41 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 1.27. 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.

JP Morgan have made an estimate for Riot Platforms Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 08, 2023.

The Average True Range (ATR) for Riot Platforms Inc is set at 1.32, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 12.97. The Price to Book ratio for the last quarter was 2.41, with the Price to Cash per share for the same quarter was set at 2.14.

Trading performance analysis for RIOT stock

Riot Platforms Inc [RIOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.06. With this latest performance, RIOT shares gained by 59.24% in over the last four-week period, additionally plugging by 40.48% over the last 6 months – not to mention a rise of 147.00% 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 64.18, with the RSI for the last a single of trading hit 68.37, and the three-weeks RSI is set at 60.88 for Riot Platforms Inc [RIOT]. The present Moving Average for the last 50 days of trading for this stock 14.01, while it was recorded at 16.39 for the last single week of trading, and 12.56 for the last 200 days.

Riot Platforms Inc [RIOT]: A deeper dive into fundamental analysis

Riot Platforms Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.22 and a Current Ratio set at 7.22.

Riot Platforms Inc [RIOT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Riot Platforms Inc posted -0.9/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -592.30%. 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 Platforms Inc go to 20.00%.

An analysis of Institutional ownership at Riot Platforms Inc [RIOT]

The top three institutional holders of RIOT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RIOT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RIOT stock with ownership which is approximately 5.8325%.