Table of Contents
Riot Platforms Inc is a leading bitcoin mining company based in Castle Rock, Colorado. It deals with proof-of-work mining. This means it’s dedicated to making its Bitcoin mining activities more efficient.
It was established by Jason Les back in 2000. Since then, it has become a top U.S.-based publicly traded Bitcoin mining entity in North America. In January 2023, the company changed its name from Riot Blockchain Inc to Riot Platforms Inc. Its shares are traded on the NASDAQ under the symbol RIOT.
Key Takeaways:
- To invest in Riot Platforms, you need to pay attention to the market conditions and statistical data1.
- Even though Riot Platforms stock has fluctuated recently, it has seen remarkable growth over the last five years1.
- Most analysts recommend buying RIOT shares, setting the price target at approximately $201.
- Riot Platforms aims to grow its mining operations while cutting production costs2.
- For buying Riot Platforms stock, it’s crucial to look at the market order vs. limit order balance and the stop orders trigger rate3.
Buying shares in Riot Platforms is simple and quick. You can join one of the top Bitcoin mining companies with just a few steps. Here’s what you need to do:
Step 1: Open a Brokerage Account
Start by opening a brokerage account with a reliable broker that lets you trade stocks. Choose one that fits your style. Brokers offer easy-to-use platforms and a variety of investments.
Step 2: Fund Your Account
Next, fund your brokerage account. You can add money via bank transfer, debit card, or credit card. Make sure you have enough to invest in Riot Platforms.
Step 3: Search Ticker Symbol
Now it’s time to find Riot Platforms stock using its ticker symbol, RIOT. This symbol is how you identify and trade the stock.
Step 4: Choose Order Type
Decide on your order type for Riot Platforms stock. Your choices are market orders and limit orders.
A market order buys the stock immediately at the current price. It’s fast but doesn’t guarantee a set price.
With a limit order, you set the highest price you’ll pay for the stock. If it hits that price, your order goes through. This option lets you control your buying price.
Step 5: Submit the Order
After choosing your order type, pick how many shares or how much money you want to spend. Review your order carefully and then submit it. The broker will take it from there.
That’s all it takes to own Riot Platforms shares. The whole process can take just 15 minutes. You’ll need a device, internet, ID, and your payment method.
Now you can watch your Riot Platforms shares grow and hope they increase in value.
Top Broker Picks for Buying Riot Platforms Stock
There are many places to buy Riot Platforms stock. These are some of the best places to look:
- 4 Brokerage Recommendation: Riot Platforms, Inc. gets a mix of Strong Buy and Buy ratings from 10 firms. Their average rating is 1.30. This shows the stock is well-regarded by experts.
- 4 Strong Buy and Buy Recommendations: 80% of the suggestions for Riot Platforms, Inc. are to Strong Buy it. Another 10% say Buy. This shows how much they believe the stock can grow.
- 4 Brokerage Bias: An analysis found that for every “Strong Sell,” there are five “Strong Buy” suggestions. This strong positive lean further supports the stock’s favourable view.
- 2Riot Platforms is placed in the Zacks Rank #4 (Sell) group. This means buyers should be cautious despite the good ABR.
When checking out broker advice, you should also do your own research. Look into the company’s financial health, the industry it’s in, and the current market situation. This will give you a wider view.
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Latest Updates for Riot Platforms
Keep up with the latest news on Riot Platforms stock. Here’s what’s happening:
1. Analyst Price Targets
Analysts are eyeing Riot Platforms (NASDAQ:RIOT) stock. They’ve set an average 12-month price target of $18.47. This includes a high of $20.00 and a low of $15.005. Just recently, the average target went up by 1.65% to $18.175.
2. Mining Capacity Expansion
Riot Platforms is set to boost its self-mining hash rate. By 2025, they plan to hit 41 EH/s with new mining setups5.
3. Stock Performance
In the past year, Riot Platforms’ stock has been quite up and down. It’s been trading between $7.8 and $20.65, showing high volatility with a beta of 4.0635. The stock prices have seen drops over different times: 1 week (-9.31%), 1 month (-9.99%), and longer spans like 5 years (247.27%)5.
There are also periods with big gains or losses such as 2 years (87.62%) and 3 years (-69.75%)5.
4. Financial Data
Their P/E ratio ends up at about 25x5. They made $238.4 million in EBITDA5. In May, they mined 215 bitcoins, which is 68% less than last year and 43% less than April5.
5. Market Comparison
Riot Platforms has had some tough times recently. Their returns are below the S&P 500, with YTD at -38.27%, 1-Year at -15.11%, and 3-Year at -70.32%6. The S&P 500’s latest numbers are also slightly down6.
Amid this, crude oil and gold prices have dipped. Some trending stock tickers are DUOL (+3.73%), TGT (+1.92%), and PLTR (-6.73%)6.
| Market Cap | Beta (5Y Monthly) | PE Ratio (TTM) | EPS (TTM) |
|---|---|---|---|
| 2.758B USD | 4.06 | 22.74 | 0.42 |
Other key financials are: $286.74M ttm Revenue, $143.79M in Net Income, and a $0.42 EPS7. They also hold $688.5M in Total Cash with a 0.98% Total Debt/Equity ratio7.
Watch Riot Platforms for ongoing Bitcoin mining news and stock updates.
Analyst Price Targets for Riot Platforms
Analysts have given their views on Riot Platforms. They’ve set price targets for the stock. These targets show what the stock might do in the market. It helps investors make decisions.
The average price target for Riot Platforms is $18.478. Analysts think it could go as high as $20.009 or as low as $15.009. This shows that analysts have different ideas about the stock’s future.
The latest average price target is $18.178. This has gone up a bit. It means analysts are feeling more confident about how the stock might do.
Looking at the upside of Riot Platforms stock is key. Its potential to grow is between -27.01%8 and 364.55%8. This shows the stock could go up a lot or down a bit.
There have been between 5 and 10 analysts talking about Riot Platforms on different days8. This wide range means lots of analysts are looking closely at this stock.
Over the last 17 months, the average price target has fallen by $3.468. This shows that analysts have changed their views on the stock in that time.
| Rating | Number of Analysts |
|---|---|
| Strong Buy | 8 |
| Buy | 1 |
| Hold | 1 |
| Sell | 1 |
| Strong Sell | 0 |
Riot Platforms gets an average rating of 1.38. This comes from 10 analysts. They feel good about the stock.
Compared to other stocks in the US, Riot Platforms has lower between-analysts variation than -5226.47%8 of them. In growth potential, it’s better than 3708.53% of financial stocks.
Its average price target is also higher than 1393.2% of financial stocks8. More analysts cover Riot Platforms than a lot of Pharmaceutical Products stocks. They pay much attention to it.
For those interested in similar stocks in the Pharmaceutical Products area, look at MYGN, CLDX, and NEOG8.
Analysts’ views on Riot Platforms are really helpful. They give insight into what might happen with the stock. Investors can learn a lot from these predictions.
Is it a Good Time to Buy Riot Platforms Stock?
Is buying Riot Platforms stock a good idea now? To know, we should look at its financial and technical details. The stock has fallen by 30% this year. This could be a chance for buyers. It ranks well in the technology market, top 22%, to be precise. This shows it’s a strong player. But, don’t rush in without checking other important points.
In terms of basics, Riot Platforms made a profit of $211.8 million in the first quarter10. It also hit a record high in earnings before taxes and other expenses, at $245.7 million10. Such a strong financial report can make investors keen to buy shares.
Looking at the style scores11, Riot Platforms seems like a good deal for different types of investors. Some experts even predict a slight increase of 0.82%. Remember, these forecasts are informative but not certain. It’s wise to look at all aspects before deciding.
Technical Analysis
In terms of tech analysis, Riot Platforms’ share price has been jumping around. It fell by 8.35% recently11. But, after trading hours, it went up slightly by 0.03 or 0.31%11. Now, it’s selling at $9.55, less than the average of $11.64. This could be a chance for smart investors.
If we look at its history, the stock price has dropped month by month and over the year12. It’s not done as well as popular cryptocurrencies like Bitcoin or Ethereum. Their shares fell only 56% to 61% while Riot’s declined by more. This shows the need to carefully check Riot Platforms’ growth.
Should you buy Riot Platforms stock? The company might face more share price movements. Yet, its strong finances, solid market standing, and hopeful future prices could be good signs101112. But always do your detailed homework before making a decision.
Is Riot Platforms Stock Undervalued?
When looking into Riot Platforms stock, it’s wise to check a few key numbers. The P/E ratio stands at about 25 times earnings. This figure shows the stock might be high priced compared to the average US stock13.
The P/E ratio suggests the stock could be seen as overvalued by some. On the other hand, a low P/B ratio of 1.11 times book value signals potential undervaluation. With an EBITDA of $238.4 million, Riot Platforms seems to be doing well13.
These numbers give us a peek into Riot Platforms’ value. They could hint at whether the stock is valued right against similar peers.
Valuation Metrics for Riot Platforms Stock
| Metric | Value |
|---|---|
| P/E Ratio | 25x |
| P/B Ratio | 1.11x |
| EBITDA | $238.4 million |
“The stock’s P/E ratio of 25x implies it might be overvalued. But a lower P/B ratio hints at potential undervaluation. Riot Platforms’ strong EBITDA of $238.4 million shows it’s profitable.” (Statistical data13)
It’s essential to look closely at Riot Platforms’ stock price and its relation to earnings, book value, and its industry mates. The high P/E ratio could signal overpricing, but the low P/B ratio and strong EBITDA suggest it could be priced well below its true value.
Yet, always do your homework and think about other aspects before deciding to invest.
Overall Performance and Market Position
An overview of Riot Platforms’ performance and place in the market is key to understanding its worth. As of June 21, 2024, its market cap stood at $3.0 billion. This puts it in the top 25% in the Fintech – Blockchain & Cryptocurrency industry14.
Looking beyond the P/E and P/B ratios, remember to consider sales growth and what analysts predict for earnings. Riot Platforms recently grew its quarterly sales by 8.3%. Analysts forecast earnings of $0.521 per share for the year14.
Performance scores for aspects like growth, quality, and momentum also offer insight. Riot Platforms scores average in all three categories. It’s a stable player but not a leader in these areas.
Comparison and Competitors
It’s enlightening to compare Riot Platforms with other players in its field. This helps to get a clearer picture of its value. Cipher Mining Inc, Core Scientific Inc, Iris Energy Ltd, CleanSpark Inc, and Marathon Digital Holdings Inc are key rivals. Each has its own market cap size.
“Riot Platforms’ market cap of $3.0 billion places it quite well in its industry. Its competitors have varying sizes of market caps.” (Statistical data14)
With a full analysis of Riot Platforms’ stock and industry comparisons, one can make more informed investment choices. While some valuation points to potential undervaluation, it’s vital to look at the big picture, including performance, market position, and competition.
Riot Platforms Technical Analysis
Considering investing in Riot Platforms stock? Doing stock technical analysis gives great insights into its future.
Price performance is key in technical analysis. It looks at past stock price movements to spot patterns and predict the future. The latest data1 shows Riot Platforms stock closed at $9.55, falling 8.35% from the day before. It’s also down 18.24% in the last year. Right now, it’s trading at +22.44% from its lowest price last year but is -53.75% from its highest.
Moving averages are a top tool in technical analysis. They help us spot trends and give a smoother view of price data. For Riot Platforms stock15, the moving averages point to a strong selling trend.
Volatility, or how much a stock price can change, is very important too. Riot Platforms stock has a volatility rate of 10.15%. This means its price changes are moderate.
Tools like the relative strength index (RSI) and stochastic %K and %D are also crucial. They show us the stock’s strength and volatility well15. This info helps investors understand how the stock is performing relative to others.
Looking at Riot Platforms’ technical rating15 and trends15 offers more insights. The data says it’s at a “sell” rating, with a neutral trend. This hints at a mixed view on the stock’s future performance.
Technical analysis is a vital part of a solid investment plan for Riot Platforms stock. It looks at price performance, moving averages, volatility, and more. These insights help investors make smarter choices.
How to Sell Riot Platforms Stock
Do you own Riot Platforms stock and think it’s time to sell? The process isn’t too hard. Let’s break down how to do it:
- Choose a reliable broker: Pick a brokerage firm you can trust. It should have a strong reputation and offer low fees. They will help make selling your stock both smooth and affordable16.
- Review the stock price: First, keep an eye on Riot Platforms stock prices. Wait for a good time to sell by watching market trends. News or changes in the company can also impact the stock’s worth16.
- Place a sell order: Next, get in touch with your broker. Tell them you want to sell your Riot Platforms stock. You’ll need to let them know how many shares and at what price you want to sell16.
- Settlement: When your broker sells your stock, they’ll manage the closing. This step includes transferring the shares’ ownership to the buyer. The cash from the sale will also go into your trading account16.
- Withdraw funds: Finally, after selling, you can take your money out. Send the funds to your bank or use them to buy other investments16.
Selling your Riot Platforms stock is a way to gain from your investment or limit losses. It’s a pretty straightforward process. Just be sure to keep an eye on the market and stick to your financial plan.
Conclusion
Investing in Riot Platforms stock could be a wise choice. Even though it hasn’t kept up with the industry’s growth, Riot Blockchain’s stock rose by 13.4% in the last year17. It currently trades at a lower value than others in the industry, with a 9.54 EV-to-EBITDA ratio17. This suggests it might be a good buy. The company has seen big growth in revenue and adjusted EBITDA, which is a good sign for its financial health17. Plus, a current ratio of 8.3 shows it can handle its short-term debts well17.
Looking ahead, the Zacks Consensus Estimate predicts Riot Platforms to grow sales by 25.8% this year, but earnings per share might drop. Yet, a surprise increase in earnings is possible, according to RIOT’s Earnings ESP of +17.48% and a Zacks Rank #2 (Buy)17. Consider also looking into stocks like Trane Technologies (TT) and AppLovin (APP). They have strong signs for surpassing earnings expectations in the future17.
The stock price for Riot Platforms closely follows Bitcoin’s. Its mining operations have sometimes produced more and sometimes less BTC from one year to the next18. Even though the company’s revenue growth slowed in the second quarter, it managed to cut its net loss by a lot18.
To buy Riot Platforms stock, start by setting up a brokerage account and funding it. Then, look for the stock with the ticker symbol RIOT, choose your order type, and place the order19. It’s wise to follow recommendations from top brokers, keep up with the news, and review the details of the stock before investing19. Selling shares involves following your broker’s selling process19. By doing your homework and making well-informed choices, you could do well with Riot Platforms stock19.
FAQ
How do I open a brokerage account to buy Riot Platforms stock?
Firstly, choose a brokerage that allows you to trade stocks online. Go to their website to start. You’ll need to fill in personal details and prove your identity.
What are the funding options for my brokerage account?
You can add money to your account with a bank transfer, debit or credit card. Each brokerage might differ in the methods they accept. Follow your brokerage’s guidelines to fund your account.
How can I search for Riot Platforms stock?
Look for Riot Platforms with the symbol RIOT. Type RIOT into your broker’s search bar or use their stock search tool to find it.
What order types can I choose when buying Riot Platforms stock?
For Riot Platforms stock, pick between market or limit orders. A market order buys at the current price. Whereas, a limit order allows you to set the highest price you want to pay.
How long does the buying process take?
It can take as little as 15 minutes to buy Riot Platforms stock. But, it might be longer based on how quickly your account is verified and how fast your money transfers. Have all needed documents and a reliable internet ready to make it faster.
Top brokers include eToro, TD Ameritrade, Robinhood, and Charles Schwab for buying Riot Platforms stock. They offer easy-to-use platforms, low fees, and no fees for trading certain stocks.
Where can I find the latest news and developments about Riot Platforms stock?
To keep up with Riot Platforms stock news, check financial news websites and subscribe to stock newsletters. Also, follow reliable finance sites and look at investor forums or social media.
What are the current price targets for Riot Platforms stock?
Analysts think the price could reach .47 on average. The highest target is .00, and the lowest is .00. These targets help give an idea about where the stock might go.
How can I determine if it’s a good time to buy Riot Platforms stock?
Check the company’s technical and fundamental data. Review past performance, volatility, historical data, and expert opinions. These will help you make a smart decision on when to invest in Riot Platforms stock.
Is Riot Platforms stock undervalued compared to its industry peers?
Key metrics like the P/E and P/B ratios show if a stock is cheap. Riot Platforms has a P/E of about 25x, which is high but could mean investors are confident. A low P/B ratio and positive EBITDA show its value. This suggests it could be a good buy compared to similar companies.
How can I conduct technical analysis on Riot Platforms stock?
To analyse Riot Platforms stock, look at its price, trends, and movements. Use tools like moving averages and indicators to understand its market positions and potential. This will give you more insight into the stock’s performance.
How do I sell my Riot Platforms stock?
To sell your stock, log into your brokerage account. Go to the selling section and select your preferences. You can choose how many shares to sell and what type of order to place. Finally, review and confirm your sell order to finish the process.
Source Links
- https://www.wallstreetzen.com/how-to-buy-riot-platforms-stock – How to Buy Riot Platforms Stock: Invest in RIOT Shares Today (Jun 23, 2024)
- https://www.bitcoinmarketjournal.com/buy-riot-stock/ – How to Buy Riot Blockchain Stock, Step by Step (with Screenshots) – Bitcoin Market Journal
- https://stockinvest.us/how-to-buy-riot-blockchain-stock – How to Buy Riot Blockchain Stock (RIOT)?
- https://www.nasdaq.com/articles/is-riot-platforms-inc.-riot-a-buy-as-wall-street-analysts-look-optimistic – Is Riot Platforms, Inc. (RIOT) a Buy as Wall Street Analysts Look Optimistic?
- https://www.finder.com/stock-trading/tech-stocks/buy-riot-blockchain-stock – How to buy Riot Platforms stock (RIOT)
- https://finance.yahoo.com/quote/RIOT/news/ – Riot Platforms, Inc. (RIOT) Latest Stock News & Headlines – Yahoo Finance
- https://finance.yahoo.com/quote/RIOT/ – Riot Platforms, Inc. (RIOT) Stock Price, News, Quote & History – Yahoo Finance
- https://stocknews.com/stock/RIOT/price-target/ – Average Analyst Price Target is $42
- https://www.marketbeat.com/stocks/NASDAQ/RIOT/forecast/ – Riot Platforms (RIOT) Stock Forecast and Price Target 2024
- https://www.fool.com/investing/2024/05/11/is-riot-blockhain-stock-a-no-brainer-buy-after-pos/ – Is Riot Platforms Stock a No-Brainer Buy After Posting Record Numbers? | The Motley Fool
- https://www.zacks.com/stock/research/RIOT/stock-style-scores – Should I buy Riot Platforms, Inc. (RIOT)
- https://coincodex.com/stock/RIOT/price-prediction/ – Riot Blockchain (RIOT) Stock Forecast & Price Prediction 2025, 2030 | CoinCodex
- https://www.nasdaq.com/articles/3-most-undervalued-blockchain-stocks-buy-june-2024 – The 3 Most Undervalued Blockchain Stocks to Buy in June 2024
- https://www.aaii.com/investingideas/article/16726-is-riot-blockchain-stock-riot-a-good-investment – Is Riot Blockchain Stock (RIOT) a Good Investment?
- https://www.tradingview.com/symbols/NASDAQ-RIOT/technicals/ – Technical Analysis of Riot Platforms, Inc. (NASDAQ:RIOT) — TradingView
- https://markets.businessinsider.com/stocks/riot-stock – Riot Platforms Stock Price | RIOT Stock Quote, News, and History | Markets Insider
- https://www.nasdaq.com/articles/should-you-buy-riot-platforms-riot-ahead-of-q1-earnings – Should You Buy Riot Platforms (RIOT) Ahead of Q1 Earnings?
- https://www.fool.com/investing/2023/09/13/should-you-invest-in-riot-platforms-right-now/ – Should You Invest in Riot Platforms Right Now? | The Motley Fool
- https://finance.yahoo.com/news/analyst-estimates-heres-brokers-think-190107466.html – Analyst Estimates: Here’s What Brokers Think Of Riot Platforms, Inc. (NASDAQ:RIOT) After Its Yearly Report
