Fintel reports that on July 26, 2024, Stifel initiated coverage of Riot Platforms (NasdaqCM:RIOT) with a Speculative Buy recommendation.
Analyst Price Forecast Suggests 63.10% Upside
As of July 24, 2024, the average one-year price target for Riot Platforms is $18.27/share. The forecasts range from a low of $11.11 to a high of $24.15. The average price target represents an increase of 63.10% from its latest reported closing price of $11.20 / share.
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The projected annual revenue for Riot Platforms is 499MM, an increase of 74.01%. The projected annual non-GAAP EPS is 0.06.
What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in Riot Platforms. This is an increase of 1 owner(s) or 0.20% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.15%, an increase of 26.77%. Total shares owned by institutions increased in the last three months by 3.59% to 113,778K shares. 
The put/call ratio of RIOT is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,752K shares representing 1.99% ownership of the company. In its prior filing, the firm reported owning 6,210K shares , representing a decrease of 7.97%. The firm decreased its portfolio allocation in RIOT by 33.19% over the last quarter.
Geode Capital Management holds 5,050K shares representing 1.75% ownership of the company. In its prior filing, the firm reported owning 4,749K shares , representing an increase of 5.96%. The firm decreased its portfolio allocation in RIOT by 25.62% over the last quarter.
IWM - iShares Russell 2000 ETF holds 4,852K shares representing 1.68% ownership of the company. In its prior filing, the firm reported owning 5,061K shares , representing a decrease of 4.33%. The firm decreased its portfolio allocation in RIOT by 21.90% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,743K shares representing 1.64% ownership of the company. In its prior filing, the firm reported owning 4,994K shares , representing a decrease of 5.31%. The firm decreased its portfolio allocation in RIOT by 30.78% over the last quarter.
VITAX - Vanguard Information Technology Index Fund Admiral Shares holds 4,578K shares representing 1.59% ownership of the company. In its prior filing, the firm reported owning 3,205K shares , representing an increase of 29.99%. The firm decreased its portfolio allocation in RIOT by 0.42% 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.
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This story originally appeared on Fintel.
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