Riot Platforms Inc RIOT is set to announce its fourth-quarter earnings on Monday. Analysts predict an earnings per share (EPS) of 11 cents and revenues of $134.78 million, with results coming in after market hours.

Over the past year, the stock has declined by 39.78%, though it has rebounded by 25.12% in the last six months.

This article will analyze the current performance of Riot stock and how it aligns with Wall Street’s expectations.

See Also: $100 Invested In Riot Platforms 5 Years Ago Would Be Worth This Much Today

Bearish Trends Looming Over Riot Ahead of Q4 Earnings

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The stock is currently trading at $10.46, which is below the five, 20, and 50-day exponential moving averages. This situation indicates a strong downtrend for Riot stock.

In addition, it is also positioned below its eight-day, 20-day, and 50-day simple moving averages priced at $11.50, $11.69, and $11.94, respectively, suggesting ongoing bearish conditions.

Although the 200-day simple moving average at $10.21 offers a glimmer of long-term support, the current Moving Average Convergence Divergence (MACD) reading stands at negative 0.21, indicating increased short-term risk.

Furthermore, the Relative Strength Index (RSI) rests at 38.5. While it nears oversold territory, it hasn’t yet suggested a potential turnaround. Investors are advised to proceed with caution, as the technical indicators point to near-term weaknesses unless the stock can regain key moving averages.

Analysts Expect Significant Upside for Riot Stock

Ratings & Consensus Estimates: Riot stock holds a consensus Buy rating among analysts, with a price target set at $16.51. Recent evaluations from Needham, Piper Sandler, and JPMorgan suggest a notable potential for growth, estimating a 70.38% upside and an average price target of $18.33.

Price Action: At the time of this report, Riot stock was trading at $10.76.

Stay Tuned:

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