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Author: Admin | 2025-04-28
The average of the top nine miners. The company's P/H was in the middle of the pack at 136.8, putting it slightly below the average.Meanwhile, Riot Platforms' implied cost of bitcoin production was the second-best of the nine best miners, coming in at $8,400 — much better than the average. Over the long term, a more constructive view may become appropriate for Riot Platforms. However, Riot shares are off 24% for the last month, pointing to downward momentum.What is the Price Target for RIOT Stock? Riot Platforms has a Strong Buy consensus rating based on eight Buys, zero Holds, and zero Sell ratings assigned over the last three months. At $19.94, the average Riot Platforms stock price target implies upside potential of 113.7%.Conclusion: Bearish on MARA, Neutral on RIOTWhen gauging a bitcoin miner's stock-price performance, it's also important to look at the price action of bitcoin. Thus far, in 2023, bitcoin miners have significantly outperformed bitcoin. As of July, the average year-to-date stock price gain among the nine leading publicly-traded bitcoin miners was over 250%, nearly three times bitcoin's gain.However, more recent price action reveals sizable sell-offs in both stocks. Marathon's downward momentum is much worse than that of Riot's, with the stock down 37.9% over the last month. High short interest in both names suggests a short squeeze can't be ruled out at some point, with Marathon at 23% and Riot at 17%. However, betting on a short squeeze can be a bit like trying to catch a falling knife. Nevertheless, Riot is the clear winner.Disclosure The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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