Now Is A Suitable Moment For A Long-Term Purchase Of Riot Platforms Inc (NASDAQ: RIOT)

Currently, there are 206.51M common shares owned by the public and among those 185.33M shares have been available to trade.

Insiders at the company have transacted a total of 30 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 1,537,701 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 2,279,936 shares.

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The company’s stock has a 5-day price change of 29.79% and 41.54% over the past three months. RIOT shares are trading -5.95% year to date (YTD), with the 12-month market performance up to 123.16% higher. It has a 12-month low price of $5.16 and touched a high of $20.65 over the same period. RIOT has an average intraday trading volume of 1.47 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 30.82%, 5.97%, and 17.22% respectively.

Institutional ownership of Riot Platforms Inc (NASDAQ: RIOT) shares accounts for 41.31% of the company’s 206.51M shares outstanding.

It has a market capitalization of $3.00B and a beta (3y monthly) value of 4.28. The earnings-per-share (ttm) stands at -$1.68. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.02% over the week and 9.03% over the month.

Analysts forecast that Riot Platforms Inc (RIOT) will achieve an EPS of -$0.28 for the current quarter, -$0.23 for the next quarter and -$0.53 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.39 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.9 a year ago. Earnings per share for the fiscal year are expected to increase by 71.37%, and 20.50% over the next financial year. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -2.06% over the past 5-year period.

Looking at the support for the RIOT, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 08, 2023, with the firm’s price target at $8-$12.

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