Fintel reports that on December 8, 2023, JP Morgan upgraded their outlook for Riot Platforms (NASDAQ:RIOT) from Underweight to Neutral .
Analyst Price Forecast Suggests 10.88% Upside
As of November 27, 2023, the average one-year price target for Riot Platforms is 16.50. The forecasts range from a low of 7.58 to a high of $23.10. The average price target represents an increase of 10.88% from its latest reported closing price of 14.88.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Riot Platforms is 424MM, an increase of 61.80%. The projected annual non-GAAP EPS is -0.08.
What is the Fund Sentiment?
There are 412 funds or institutions reporting positions in Riot Platforms. This is an increase of 22 owner(s) or 5.64% in the last quarter. Average portfolio weight of all funds dedicated to RIOT is 0.23%, a decrease of 24.29%. Total shares owned by institutions increased in the last three months by 13.12% to 85,917K shares. 
The put/call ratio of RIOT is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,408K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 5,274K shares, representing an increase of 2.49%. The firm decreased its portfolio allocation in RIOT by 15.98% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,538K shares representing 2.20% ownership of the company. In it's prior filing, the firm reported owning 4,294K shares, representing an increase of 5.39%. The firm decreased its portfolio allocation in RIOT by 12.53% over the last quarter.
Geode Capital Management holds 3,984K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 3,637K shares, representing an increase of 8.71%. The firm decreased its portfolio allocation in RIOT by 12.35% over the last quarter.
IWM - iShares Russell 2000 ETF holds 3,963K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 3,638K shares, representing an increase of 8.18%. The firm decreased its portfolio allocation in RIOT by 10.06% over the last quarter.
Susquehanna International Group, Llp holds 2,631K shares representing 1.27% ownership of the company. In it's prior filing, the firm reported owning 689K shares, representing an increase of 73.82%. The firm increased its portfolio allocation in RIOT by 208.61% 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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