Riot Blockchain Inc. (NASDAQ: RIOT) stock jumped 7.27% on Friday to $6.20 against a previous-day closing price of $5.78. With 19.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 12.37 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $6.22 whereas the lowest price it dropped to was $5.62. The 52-week range on RIOT shows that it touched its highest point at $23.66 and its lowest point at $3.25 during that stretch. It currently has a 1-year price target of $9.80. Beta for the stock currently stands at 4.17.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RIOT was up-trending over the past week, with a rise of 0.81%, but this was up by 62.30% over a month. Three-month performance surged to 9.35% while six-month performance fell -18.64%. The stock lost -64.55% in the past year, while it has gained 82.89% so far this year. A look at the trailing 12-month EPS for RIOT yields -2.63 with Next year EPS estimates of -0.21. For the next quarter, that number is -0.13. This implies an EPS growth rate of 71.90% for this year and 92.40% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 35.80%.
Float and Shares Shorts:
At present, 153.90 million RIOT shares are outstanding with a float of 153.79 million shares on hand for trading. On Oct 13, 2022, short shares totaled 25.0 million, which was 14.96% higher than short shares on Sep 14, 2022. In addition to Mr. Soo Li Yi as the firm’s Exec. Chairman, Mr. Jason Les serves as its CEO & Non Independent Exec. Director.
Through their ownership of 32.82% of RIOT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 22.10% of RIOT, in contrast to 14.25% held by mutual funds. Shares owned by individuals account for 12.30%. As the largest shareholder in RIOT with 8.54% of the stake, The Vanguard Group, Inc. holds 14,291,066 shares worth 14,291,066. A second-largest stockholder of RIOT, BlackRock Fund Advisors, holds 8,492,293 shares, controlling over 5.08% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in RIOT, holding 3,435,816 shares or 2.05% stake. With a 2.74% stake in RIOT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,579,007 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.32% of RIOT stock, is the second-largest Mutual Fund holder. It holds 3,879,873 shares valued at 13.15 million. iShares Russell 2000 ETF holds 2.12% of the stake in RIOT, owning 3,548,352 shares worth 12.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RIOT since 10 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RIOT analysts setting a high price target of $15.00 and a low target of $5.00, the average target price over the next 12 months is $10.00. Based on these targets, RIOT could surge 141.94% to reach the target high and fall by -19.35% to reach the target low. Reaching the average price target will result in a growth of 61.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RIOT will report FY 2022 earnings on 03/14/2024. Analysts have provided yearly estimates in a range of -$2.64 being high and -$2.95 being low. For RIOT, this leads to a yearly average estimate of -$2.81. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Riot Blockchain Inc. surprised analysts by -$0.25 when it reported -$0.24 EPS against a consensus estimate of $0.01. The surprise factor in the prior quarter was -$0.56. Based on analyst estimates, the high estimate for the next quarter is $0.04 and the low estimate is -$0.27. The average estimate for the next quarter is thus -$0.11.
Summary of Insider Activity:
Insiders traded RIOT stock several times over the past three months with 0 Buys and 5 Sells. In these transactions, 0 shares were bought while 157,551 shares were sold. The number of buy transactions has increased to 55 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 11,460,274 while 700,469 shares were sold.