In a report released yesterday, Gautam Chhugani from Bernstein maintained a Buy rating on Riot Platforms (RIOT – Research Report), with a price target of $22.50. The company’s shares closed yesterday at $13.48.
According to TipRanks, Chhugani is a 4-star analyst with an average return of 158.4% and a 100.00% success rate. Chhugani covers the Financial sector, focusing on stocks such as Riot Platforms, Marathon Digital Holdings, and Cleanspark.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Riot Platforms with a $19.33 average price target, implying a 43.40% upside from current levels. In a report released on March 1, B.Riley Financial also maintained a Buy rating on the stock with a $17.00 price target.
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The company has a one-year high of $20.65 and a one-year low of $5.16. Currently, Riot Platforms has an average volume of 30.99M.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RIOT in relation to earlier this year.
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Riot Platforms (RIOT) Company Description:
Riot Blockchain Inc is focused on building, supporting and operating blockchain technologies. Distributed blockchain technology is a decentralized and encrypted ledger that is designed to offer a secure, efficient, verifiable and permanent way of storing records and other information without the need for intermediaries. It serves as a medium of exchange, store of value or unit of account. The company’s portfolio consists of Verady, Tesspay, Coinsquare, and others.
Read More on RIOT:
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- Riot Platforms price target raised to $17 from $14 at B. Riley
- Morgan Stanley considering whether to offer spot bitcoin ETFs, Coindesk says
