Fintel reports that on December 17, 2024, Piper Sandler initiated coverage of Riot Platforms (NasdaqCM:RIOT) with a Overweight recommendation.
Analyst Price Forecast Suggests 24.43% Upside
As of December 3, 2024, the average one-year price target for Riot Platforms is $17.46/share. The forecasts range from a low of $11.11 to a high of $25.20. The average price target represents an increase of 24.43% from its latest reported closing price of $14.03 / share.
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The projected annual revenue for Riot Platforms is 499MM, an increase of 59.46%. The projected annual non-GAAP EPS is 0.06.
What is the Fund Sentiment?
There are 478 funds or institutions reporting positions in Riot Platforms. This is an decrease of 14 owner(s) or 2.85% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.12%, an increase of 0.78%. Total shares owned by institutions increased in the last three months by 9.17% to 153,445K shares. 
The put/call ratio of RIOT is 0.42, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,989K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 8,255K shares , representing an increase of 8.16%. The firm decreased its portfolio allocation in RIOT by 16.98% over the last quarter.
IWM - iShares Russell 2000 ETF holds 7,415K shares representing 2.23% ownership of the company. In its prior filing, the firm reported owning 4,631K shares , representing an increase of 37.55%. The firm increased its portfolio allocation in RIOT by 12.14% over the last quarter.
Geode Capital Management holds 7,238K shares representing 2.18% ownership of the company. In its prior filing, the firm reported owning 6,910K shares , representing an increase of 4.54%. The firm decreased its portfolio allocation in RIOT by 58.91% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 6,848K shares representing 2.06% ownership of the company. In its prior filing, the firm reported owning 6,534K shares , representing an increase of 4.58%. The firm decreased its portfolio allocation in RIOT by 22.37% over the last quarter.
Susquehanna International Group, Llp holds 6,413K shares representing 1.93% ownership of the company. In its prior filing, the firm reported owning 7,124K shares , representing a decrease of 11.09%. The firm decreased its portfolio allocation in RIOT by 31.44% 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.
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This story originally appeared on Fintel.
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