Riot Platforms Inc (NASDAQ:RIOT) shares traded 1.75% higher at $12.24 on Wall Street last session.
RIOT stock price is now 21.00% away from the 50-day moving average and 5.25% away from the 200-day moving average. The market capitalization of the company currently stands at $3.53B.
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With the price target enhanced from $8 to $12, JP Morgan Upgraded its rating from Underweight to Neutral for Riot Platforms Inc (NASDAQ: RIOT). On October 31, 2023, Bernstein recently initiated its ‘Outperform’ rating on the stock quoting a target price of $15.60, while ‘JP Morgan’ rates the stock as ‘Underweight’
In other news, Werner Ryan D., SVP, CAO sold 35,000 shares of the company’s stock on Mar 15 ’24. The stock was sold for $390,250 at an average price of $11.15. Upon completion of the transaction, the SVP, CAO now directly owns 462,759 shares in the company, valued at $5.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 28 ’24, Director Cho Hannah sold 15,000 shares of the business’s stock. A total of $261,300 was realized by selling the stock at an average price of $17.42. This leaves the insider owning 85,151 shares of the company worth $1.04 million. A total of 8.49% of the company’s stock is owned by insiders.
During the past 12 months, Riot Platforms Inc has had a low of $7.80 and a high of $19.50. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 8.47, and a quick ratio of 8.47. According to the stock market information, the enterprise value for the company is $2870576640, which is based on a 16.66 price-to-earnings ratio, a 0.83 price-to-earnings-growth ratio, and a beta of 4.15. The fifty day moving average price for RIOT is $10.1534 and a two-hundred day moving average price translates $11.646825 for the stock.
The latest earnings results from Riot Platforms Inc (NASDAQ: RIOT) was released for 2024-03-31. The net profit margin was 76.03% and return on equity was 12.22% for RIOT. The company reported revenue of $79.3 million for the quarter, compared to $73.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.27 percent.
