In a filing, Riot Platforms Inc revealed its Director D’Ambrosio Lance Varro unloaded Company’s shares for reported $0.18 million on Sep 16 ’24. In the deal valued at $7.00 per share,25,000 shares were sold. As a result of this transaction, D’Ambrosio Lance Varro now holds 44,441 shares worth roughly $0.47 million.
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Then, D’Ambrosio Lance Varro bought 25,000 shares, generating $174,025 in total proceeds.
Before that, Marleau Hubert sold 17,861 shares. Riot Platforms Inc shares valued at $137,530 were divested by the Director at a price of $7.70 per share. As a result of the transaction, Marleau Hubert now holds 66,000 shares, worth roughly $0.7 million.
Macquarie initiated its Riot Platforms Inc [RIOT] rating to an Outperform in a research note published on September 25, 2024; the price target was $15. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. JP Morgan also remained covering RIOT and has increased its forecast on December 08, 2023 with a “Neutral” recommendation from previously “an Underweight” rating. Bernstein started covering the stock on October 31, 2023. It rated RIOT as “an Outperform”.
Price Performance Review of RIOT
On Monday, Riot Platforms Inc [NASDAQ:RIOT] saw its stock jump 9.54% to $10.56. Over the last five days, the stock has gained 8.42%. Riot Platforms Inc shares have fallen nearly -31.74% since the year began. Nevertheless, the stocks have risen 7.87% over the past one year. While a 52-week high of $18.75 was reached on 02/27/24, a 52-week low of $6.36 was recorded on 09/06/24. SMA at 50 days reached $7.97, while 200 days put it at $10.19.
Levels Of Support And Resistance For RIOT Stock
The 24-hour chart illustrates a support level at 10.09, which if violated will result in even more drops to 9.63. On the upside, there is a resistance level at 10.86. A further resistance level may holdings at 11.17. The Relative Strength Index (RSI) on the 14-day chart is 70.71, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.88, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 4.53%. Stochastics %K at 85.97% indicates the stock is a selling.
How much short interest is there in Riot Platforms Inc?
A steep rise in short interest was recorded in Riot Platforms Inc stocks on 2024-10-15, growing by 1.62 million shares to a total of 50.33 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 48.71 million shares. There was a rise of 3.21%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on October 11, 2023 when JP Morgan began covering the stock and recommended ‘”an Underweight”‘ rating along with a $6.50 price target.
