Streetbeat News

RIOT

Riot Blockchain, Inc.

https://www.riotblockchain.com

Industry

Software - Application

Riot Blockchain, Inc., together with its subsidiaries, focuses on bitcoin mining operations in North America. It operates through Bitcoin Mining, Data Center Hosting, and Electrical Products and Engineering segments. As of December 31, 2021, it operated approximately 30,907 miners. Riot Blockchain, Inc. was incorporated in 2000 and is headquartered in Castle Rock, Colorado.

Open

12.33

Mkt cap

4.3B

Volume

29M

High

12.84

P/E Ratio

85.40

52-wk high

18.75

Low

12.01

Div yield

N/A

52-wk low

6.36

Riot Blockchain, Inc. has acquired 31,500 miners from MicroBT for a total of $97.4 million, aiming to expand its mining capabilities.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 2:01 pm

Bitcoin's surge above $55K positively impacted Marathon Digital Holdings Inc (MARA) and Riot Platforms Inc (RIOT), with significant stock gains. Zoom Video Communications Inc (ZM) saw a slight decline despite strong Q4 earnings. Hims & Hers Health, Inc. (HIMS) and Tesla Inc. (TSLA) also experienced stock increases, attributed to positive earnings and expansion news, respectively. U.S. indices closed lower, with the Dow Jones, S&P 500, and Nasdaq all experiencing declines.

Portfolio Pulse from Benzinga Neuro

February 27, 2024 | 2:26 am

Riot Blockchain, Inc. (RIOT) has entered into a sales agreement as of August 9, 2023, with sales agents to potentially offer and sell shares of its common stock up to an aggregate initial offering price of $750,000,000 over time through the sales agent.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:01 pm

Wall Street saw a subdued start to the week with major indices showing little change. The S&P 500 and Nasdaq 100 experienced minor adjustments, while the iShares Russell 2000 ETF (IWM) saw a slight increase. Treasury yields rose, impacting the iShares 20+ Year Treasury Bond ETF (TLT). In the stock market, Tesla (TSLA) and other EV stocks rallied, while Alphabet (GOOGL) fell due to concerns over its Gemini AI tool. Crypto-related stocks like Marathon Digital Holdings (MARA), Coinbase Global (COIN), and Riot Platforms (RIOT) surged alongside Bitcoin. Other notable movements included Palo Alto Networks (PANW) and R1 RCM (RCM) seeing significant gains.

Portfolio Pulse from Piero Cingari

February 26, 2024 | 7:35 pm

Bitcoin mining stocks CleanSpark, Marathon Digital, and Riot Platforms are experiencing significant gains due to the rising price of Bitcoin, which has reached its highest level since December 2021. The surge is attributed to increased demand following the approval of spot ETFs and anticipation of April's halving event. CleanSpark's shares rose after reporting strong earnings, Riot reported all-time highs in revenues and Bitcoin production, and Marathon is expected to report earnings soon.

Portfolio Pulse from Adam Eckert

February 26, 2024 | 4:58 pm

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:10 pm

Riot Platforms (NASDAQ:RIOT) has significantly outperformed the market with an annualized return of 20.35% over the past 5 years, turning a $1000 investment into $4,182.45. The company now has a market capitalization of $3.13 billion.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 7:30 pm

Cantor Fitzgerald analyst Josh Siegler has reiterated an Overweight rating on Riot Platforms (NASDAQ:RIOT), maintaining a $19 price target on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:59 pm

Riot Platforms (RIOT) reported FY23 revenue of $280.7M, missing the $288.433M estimate but showing improvement from $259.2M in FY22. The increase was driven by higher Bitcoin production and prices. RIOT earned $71.2M in power credits, produced 6,626 Bitcoin (up 19% YOY), and saw a net loss decrease to $49.5M from $509.6M in FY22. Non-GAAP Adjusted EBITDA was $214.0M, including a $184.7M gain on Bitcoin. The company also increased its hash rate capacity by 28% to 12.4 EH/s.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 9:56 pm

Recent analysis of unusual options activity for Riot Platforms (NASDAQ:RIOT) shows a bullish sentiment among traders, with 70% of trades being bullish. The analysis revealed 10 unusual trades, including 2 puts valued at $63,525 and 8 calls valued at $348,030, targeting a price window of $15.0 to $35.0. Riot Platforms, a Bitcoin mining company, is currently trading at $15.23, up by 0.86%, with an RSI suggesting it may be approaching overbought. An earnings release is anticipated in 11 days, and an analyst from Needham maintains a Buy rating with a target price of $18.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 6:46 pm

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