Gaining Ground: Riot Platforms Inc (RIOT) Closes Lower at 9.74, Down -3.08

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The price of Riot Platforms Inc (NASDAQ: RIOT) closed at $9.74 in the last session, down -3.08% from day before closing price of $10.05. In other words, the price has decreased by -$3.08 from its previous closing price. On the day, 24.17 million shares were traded. RIOT stock price reached its highest trading level at $10.29 during the session, while it also had its lowest trading level at $9.515.

Ratios:

We take a closer look at RIOT’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 8.47 and its Current Ratio is at 8.47. In the meantime, Its Debt-to-Equity ratio is 0.01 whereas as Long-Term Debt/Eq ratio is at 0.01.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, JP Morgan on December 08, 2023, Upgraded its rating to Neutral and sets its target price to $12 from $8 previously.

On October 31, 2023, Bernstein started tracking the stock assigning a Outperform rating and target price of $15.60.

On October 11, 2023, JP Morgan started tracking the stock assigning a Underweight rating and target price of $6.50.JP Morgan initiated its Underweight rating on October 11, 2023, with a $6.50 target price.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 15 ’24 when Werner Ryan D. sold 35,000 shares for $11.15 per share. The transaction valued at 390,250 led to the insider holds 462,759 shares of the business.

Cho Hannah sold 15,000 shares of RIOT for $261,300 on Feb 28 ’24. The Director now owns 85,151 shares after completing the transaction at $17.42 per share. On Dec 08 ’23, another insider, Jackman William Richard, who serves as the EVP, GENERAL COUNSEL of the company, sold 57,000 shares for $15.68 each. As a result, the insider received 893,669 and left with 947,557 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RIOT now has a Market Capitalization of 2812765696 and an Enterprise Value of 2148614400. As of this moment, Riot’s Price-to-Earnings (P/E) ratio for their current fiscal year is 13.26, and their Forward P/E ratio for the next fiscal year is 42.56. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.66. For the stock, the TTM Price-to-Sale (P/S) ratio is 9.81 while its Price-to-Book (P/B) ratio in mrq is 1.05. Its current Enterprise Value per Revenue stands at 7.493 whereas that against EBITDA is 9.012.

Stock Price History:

Over the past 52 weeks, RIOT has reached a high of $20.65, while it has fallen to a 52-week low of $7.80. The 50-Day Moving Average of the stock is -6.82%, while the 200-Day Moving Average is calculated to be -16.97%.

Shares Statistics:

According to the various share statistics, RIOT traded on average about 22.74M shares per day over the past 3-months and 19716850 shares per day over the past 10 days. A total of 288.79M shares are outstanding, with a floating share count of 265.52M. Insiders hold about 8.06% of the company’s shares, while institutions hold 41.37% stake in the company. Shares short for RIOT as of 1715731200 were 50422480 with a Short Ratio of 2.22, compared to 1713139200 on 34475990. Therefore, it implies a Short% of Shares Outstanding of 50422480 and a Short% of Float of 17.65.

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