Riot Platforms Inc [NASDAQ: RIOT] traded at a high on Friday, posting a 6.13 gain after which it closed the day’ session at $11.60. The company report on March 12, 2024 at 11:00 AM that Reformed Energy, a Waste-to-Energy Company, Secures Strategic Investment from Riot Platforms.
This strategic investment will seed the development of a pilot site, while also accelerating the long term objective of being the premier platform for turning the world’s waste into fuels and power. .
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Reformed Energy Inc., a Texas corporation, announced today that it has secured a strategic investment from Riot Platforms, Inc. (“Riot”), marking a significant milestone for the company as it seeks to bring its unique plasma gasification technology to full commercialization.
The results of the trading session contributed to over 26044033 shares changing hands. Over the past one week, the price volatility of Riot Platforms Inc stands at 7.99% while the volatility over the past one month is 9.92%.
The market cap for RIOT stock reached $2.94 billion, with 230.84 million shares outstanding and 227.86 million shares in the current float. Compared to the average trading volume of 30.34M shares, RIOT reached a trading volume of 26044033 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $20.45 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. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on October 31, 2023, representing the official price target for Riot Platforms Inc stock. Previously, the target price had yet another raise to $6.50, while JP Morgan analysts kept a Underweight rating on RIOT stock.
The Average True Range (ATR) for Riot Platforms Inc is set at 1.27, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 10.48. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 3.58.
How has RIOT stock performed recently?
Riot Platforms Inc [RIOT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.07. With this latest performance, RIOT shares dropped by -34.17% in over the last four-week period, additionally plugging by 5.74% over the last 6 months – not to mention a rise of 73.39% 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 41.44, with the RSI for the last a single of trading hit 38.42, and the three-weeks RSI is set at 43.76 for Riot Platforms Inc [RIOT]. The present Moving Average for the last 50 days of trading for this stock 13.14, while it was recorded at 11.53 for the last single week of trading, and 12.79 for the last 200 days.
Riot Platforms Inc [RIOT]: Deeper insight into the fundamentals
Riot Platforms Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.33 and a Current Ratio set at 8.33.
Earnings analysis for Riot Platforms Inc [RIOT]
With the latest financial reports released by the company, Riot Platforms Inc posted -0.33/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -94.10%. 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%.
Insider trade positions for 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%.
