(VIANEWS) – Riot Blockchain’s stock has surged 16.54% to EUR12.23 on NASDAQ, continuing its two-day winning streak. Market trends upward, as the NASDAQ rose 1.27% to EUR13,878.50 while Riot closed yesterday at EUR10.49 which is 492 below its 52 week high of EUR20.65.
About Riot Blockchain
Riot Platforms, Inc. operates as a North American bitcoin mining company with an emphasis on institutional-scale mining. They offer co-location services, critical infrastructure support and workforce support as well as co-design equipment manufacturing for power distribution equipment design & manufacture as well as electricity distribution services with data center operation & computing capacity management – previously known as Riot Blockchain Inc & founded in 1998 with headquarters located in Castle Rock Colorado.
Yearly Analysis
Based on available data, Riot Blockchain stock is currently trading at EUR12.23; significantly below its 52-week high of EUR20.65 but higher than its 52-week low of EUR3.25. This suggests a significant price fluctuation over the last year.
Riot Blockchain is projected to experience sales growth of 29.6% this year and 53.7% the following year, showing its revenue should skyrocket over time.
Riot Blockchain’s EBITDA stands at 5.9. Though this number does not provide further context, it suggests that its earnings before taxes, depreciation, amortization and interest are positive.
Overall, investors should take note of Riot Blockchain’s anticipated sales growth and positive EBITDA as positive attributes of its stock. They should also keep in mind the significant price fluctuations over the past year before making their decisions and performing rigorous due diligence on any investment decisions.
Technical Analysis
Riot Blockchain Inc (RIOT) has experienced a bearish market trend with its value falling well below its 50-day moving average of EUR14.81; conversely, however, trading is well above its 200-day moving average of EUR9.37 suggesting a possible turnaround.
Riot Blockchain’s last reported trading volume of 20014715 is 10.488% lower than its average volume of 22359700 and could indicate a lack of conviction among traders.
Riot Blockchain stock’s volatility has been trending downward over the last week, month, and quarter; yet its average intraday variation averages have shown an increasing negative trend; with highest weekly, monthly, and quarterly average variance recorded as being 3.50% (last week), 4.07% (last month), and 4.24% (last quarter).
According to the stochastic oscillator, Riot Blockchain stock may currently be considered overbought (>=80), which could suggest a short-term correction.
Overall, Riot Blockchain’s stock has given mixed signals, suggesting either an imminent short-term turnaround or perhaps an overbought condition that signals correction in the near future.
Quarter Analysis
Riot Blockchain’s sales growth currently stands at 51.8% for the current quarter and is projected to reach 65.7% during its next quarterly. Interestingly, however, its estimate growth for the current quarter indicates an unexpected slowdown.
As for revenue growth, the company has seen an annual increase of 5.2% with current total being at 256.41M.
Riot Blockchain appears to be experiencing strong sales growth overall; however, its negative projected quarterly growth may signal potential challenges ahead. Investors should carefully consider all relevant information when making investment decisions related to this company and industry trends.
Equity Analysis
Riot Blockchain currently boasts a negative EPS of EUR-1.6 for the past twelve months, suggesting it is not making profit. Furthermore, its return on equity of -21.82% for this same time frame indicates it may not be effectively using shareholder’s equity to generate profits and should therefore be treated with caution before investing. Furthermore, other factors must also be taken into consideration such as growth prospects, competitive standing and overall market conditions when making any decisions to invest.
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