JP Morgan Upgrades Riot Platforms (RIOT)
Fintel reports that on March 20, 2024, JP Morgan upgraded their outlook for Riot Platforms (NasdaqCM:RIOT) from Neutral to Overweight.
Analyst Price Forecast Suggests 84.79% Upside
As of March 11, 2024, the average one-year price target for Riot Platforms is 20.49. The forecasts range from a low of 11.11 to a high of $27.30. The average price target represents an increase of 84.79% from its latest reported closing price of 11.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Riot Platforms is 499MM, an increase of 77.77%. The projected annual non-GAAP EPS is 0.06.
What is the Fund Sentiment?
There are 487 funds or institutions reporting positions in Riot Platforms.
This is an increase
of
75
owner(s) or 18.20% in the last quarter.
Average portfolio weight of all funds dedicated to RIOT is 0.21%,
a decrease
of 6.10%.
Total shares owned by institutions increased
in the last three months by 27.91% to 109,894K shares.
The put/call ratio of RIOT is 0.44, indicating a
bullish
outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,210K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 5,408K shares, representing an increase of 12.91%. The firm increased its portfolio allocation in RIOT by 70.14% over the last quarter.
IWM - iShares Russell 2000 ETF holds 5,061K shares representing 2.00% ownership of the company. In it's prior filing, the firm reported owning 3,963K shares, representing an increase of 21.71%. The firm increased its portfolio allocation in RIOT by 63.75% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,994K shares representing 1.97% ownership of the company. In it's prior filing, the firm reported owning 4,538K shares, representing an increase of 9.14%. The firm increased its portfolio allocation in RIOT by 60.30% over the last quarter.
Geode Capital Management holds 4,749K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 3,984K shares, representing an increase of 16.11%. The firm increased its portfolio allocation in RIOT by 73.60% over the last quarter.
Invesco holds 3,381K shares representing 1.33% ownership of the company. In it's prior filing, the firm reported owning 1,914K shares, representing an increase of 43.39%. The firm decreased its portfolio allocation in RIOT by 76.42% over the last quarter.
Riot Blockchain Background Information
(This description is provided by the company.)
Riot Blockchain focuses on cryptocurrency mining of bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot also holds certain non-controlling investments in blockchain technology companies. Riot is headquartered in Castle Rock, Colorado, and the Company's primary mining facility operates out of upstate New York, under a co-location hosting agreement with Coinmint.