Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Riot Platforms Inc shares valued at $175,035 were sold by D’Ambrosio Lance Varro on Sep 16 ’24. At $7.00 per share, D’Ambrosio Lance Varro sold 25,000 shares. The insider’s holdings dropped to 44,441 shares worth approximately $0.45 million following the completion of this transaction.
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Also, D’Ambrosio Lance Varro purchased 25,000 shares, netting a total of over 174,025 in proceeds.
Before that, Marleau Hubert had sold 17,861 shares from its account. In a trade valued at $137,530, the Director traded Riot Platforms Inc shares for $7.70 each. Upon closing the transaction, the insider’s holdings decreased to 17,861 shares, worth approximately $0.67 million.
As published in their initiating research note from Macquarie on September 25, 2024, Riot Platforms Inc [RIOT] has been an Outperform and the price target has been revised to $15. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of December 08, 2023, JP Morgan has increased its “an Underweight” rating to a “Neutral” for RIOT. Earlier on October 31, 2023, Bernstein initiated its rating. Their recommendation was “an Outperform” for RIOT stock.
Analyzing RIOT Stock Performance
During the last five days, there has been a surge of approximately 10.76%. Over the course of the year, Riot Platforms Inc shares have dropped approximately -34.13%. Shares of the company reached a 52-week high of $18.36 on 02/27/24 and a 52-week low of $6.36 on 09/06/24. A 50-day SMA is recorded $7.88, while a 200-day SMA reached $10.23. Nevertheless, trading volume fell to 23.65 million shares from 19.16 million shares the previous day.
Support And Resistance Levels for Riot Platforms Inc (RIOT)
According to the 24-hour chart, there is a support level at 9.90, which, if violated, would cause prices to drop to 9.60. In the upper region, resistance lies at 10.47. The next price resistance is at 10.74. RSI (Relative Strength Index) is 73.65 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 9.09%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
