Riot Platforms Inc is a bitcoin mining company headquartered in Castle Rock, Colorado. The company engages in proof-of-work mining and focuses on expanding its operations by increasing its Bitcoin mining hash rate and infrastructure capacity.
Founded by Jason Les in 2000, Riot Platforms is one of the largest U.S. based publicly-traded Bitcoin miners in North America. The company rebranded in January 2023, changing its name from Riot Blockchain Inc to its current name, Riot Platforms Inc. The stock is listed on the NASDAQ under ticker symbol RIOT.
April 4, 2024: B. Riley Securities analysts maintained a Buy rating on Riot, with an updated price target of $16 (down from $17), according to Benzinga.
The consensus forecast from Riot Platforms' eleven analysts is for revenues of $461.4m in 2024. This reflects a substantial 64% improvement in revenue compared to the last 12 months. Losses are forecast to balloon 193% to $0.57 per share, according to Yahoo Finance.
Riot plans to energize the first building (Building A1) at its new Corsicana Facility at the end of Q1 2024. Miners will be brought online in batches over the first several weeks of April 2024. Building A2 is expected to be completed and brought online towards the end of Q2 2024, with Buildings B1 & B2 being brought online during the third and fourth quarters of 2024.
At this pace, Riot’s self-mining hash rate is expected to grow from 12.4 EH/s to over 28 EH/s by the end of 2024, according to Riot's press release.
Only you can make the decision on the time to leap... but here's some supporting information and analysis.
Over the last 12 months, Riot Platforms's shares have ranged in value from as little as $7.89 up to $20.65. A popular way to gauge a stock's volatility is its "beta".
Beta is a measure of a share's volatility in relation to the market. The market (NASDAQ average) beta is 1, while Riot Platforms's is 4.181. This would suggest that Riot Platforms's shares are significantly more volatile than the average for this exchange and represent a higher risk.
Historical closes compared with the last close of $9.13
| 1 week (2024-04-11) | 0.33% |
|---|---|
| 1 month (2024-03-19) | -26.37% |
| 3 months (2024-01-18) | -11.27% |
| 6 months (2023-10-19) | 2.93% |
| 1 year (2023-04-19) | -16.24% |
| 2 years (2022-04-18) | -38.64% |
| 3 years (2021-04-19) | -76.32% |
| 5 years (2019-04-17) | 69.07% |
The gauge below shows real-time ratings that are based on 26 popular indicators such as moving averages, for specific time periods. It's not a recommendation but is simply technical analysis that can form part of your research.
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Valuing a stock is incredibly difficult, and any metric has to be viewed as part of a bigger picture of overall performance. However, analysts commonly use some key metrics to help gauge value. Check out the Riot Platforms P/E ratio, PEG ratio and EBITDA
Riot Platforms's EBITDA (earnings before interest, taxes, depreciation and amortisation) is $110.7 million.
The EBITDA is a measure of a Riot Platforms's overall financial performance and is widely used to measure a its profitability.
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