Macquarie has recently initiated Riot Platforms Inc (RIOT) stock to Outperform rating, as announced on September 25, 2024, according to Finviz. Earlier, on July 24, 2024, Needham had reiterated the stock to Buy, setting a price target of $13 for RIOT stock. JP Morgan also raised Neutral rating with a price target of $12. Additionally, Bernstein initiated Outperform rating on October 31, 2023, with a target price of $15.60. JP Morgan analysts, in their report published on October 11, 2023, also initiated Underweight rating for Riot Platforms Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Riot Platforms Inc (RIOT) Stock Trading Recap
On Tuesday, Riot Platforms Inc (RIOT) stock saw a modest uptick, ending the day at $9.71 which represents a slight increase of $0.73 or 8.13% from the prior close of $8.98. The stock opened at $9.16 and touched a low of $9.16 during the day, reaching a high of $9.83. The volume of shares traded was 19.98 million exceeding the average volume of 18.27 million.
RIOT Stock Performance and Moving Averages
In recent trading, Riot Platforms Inc (RIOT) stock price has shown some volatility, fluctuating -10.67% over the last five trades and 19.00% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -4.52%, and it has gained 27.09% in the previous three months. Currently, RIOT is trading at 3.21%, 19.03%, and -4.42% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, RIOT, a Financial sector stock, is trading -48.21% below its 52-week high but remains 52.79% above its 52-week low. The Average True Range (ATR) (14 days) of 0.65 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Riot Platforms Inc’s Profitability and Valuation Ratios
Riot Platforms Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -108.89% and a profit margin of 16.68%, with a gross margin of -4.52%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Riot Platforms Inc’s market capitalization stands at $2.95 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 33.25, assessing the company’s valuation relative to its earnings. Additionally, the Price-to-Sales Ratio is 9.42, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 1.15, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 8.08% of Riot Platforms Inc (RIOT)’s shares, while financial institutions hold 44.23%.
Notable insider trades include D’Ambrosio Lance Varro, Director at Riot Platforms Inc (RIOT), who sold 25000 shares on Sep 16 ’24, at $7 each, totaling $0.18 million. On Aug 14 ’24, Marleau Hubert, Director, sold 17861 shares for $7.7 each, amounting to $0.14 million. Additionally, on Aug 07 ’24, Cho Hannah sold 27861 shares at $8.61 each, generating $0.24 million.
