Riot Platforms Inc [RIOT] moved down 0.00: Why It’s Important

Riot Platforms Inc [NASDAQ: RIOT] stock went on a downward path that fall over 0.00% on Thursday, amounting to a one-week price increase of more than 2.17%. 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.

Over the last 12 months, RIOT stock rose by 50.92%. The one-year Riot Platforms Inc stock forecast points to a potential upside of 40.03. The average equity rating for RIOT stock is currently 1.09, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.10 billion, with 230.84 million shares outstanding and 227.91 million shares in the current float. Compared to the average trading volume of 28.09M shares, RIOT stock reached a trading volume of 27827840 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $20.41 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 1.09. 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 1.08, with the Price to Sales ratio for RIOT stock in the period of the last 12 months amounting to 11.06. The Price to Book ratio for the last quarter was 1.50, with the Price to Cash per share for the same quarter was set at 3.58.

RIOT Stock Performance Analysis:

Riot Platforms Inc [RIOT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, RIOT shares dropped by -21.79% in over the last four-week period, additionally plugging by 35.70% over the last 6 months – not to mention a rise of 50.92% 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 47.85, with the RSI for the last a single of trading hit 49.65, and the three-weeks RSI is set at 47.70 for Riot Platforms Inc [RIOT]. The present Moving Average for the last 50 days of trading for this stock 12.78, while it was recorded at 12.07 for the last single week of trading, and 12.83 for the last 200 days.

Insight into Riot Platforms Inc 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.

RIOT Stock EPS

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%.

Riot Platforms Inc [RIOT] Institutonal Ownership Details

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%.