Broad Peak Investment Advisers Acquires 1.41 Million Shares of Riot Platforms
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 9h ago
0mins
Source: Fool
- Share Acquisition: On January 29, Broad Peak Investment Advisers disclosed the acquisition of 1.41 million shares of Riot Platforms valued at $17.86 million, indicating strong conviction in the company's potential and reinforcing its position in the digital infrastructure sector.
- Asset Allocation: Following this transaction, Riot Platforms represents 3.2% of Broad Peak's 13F reportable AUM, highlighting its significance within the portfolio, particularly alongside software and semiconductor sectors.
- Financial Performance: Riot reported record revenue of $180.2 million in Q3, with net income of $104.5 million, marking a significant turnaround from a loss a year prior, driven by rising Bitcoin prices and increased mining output.
- Strategic Shift: Riot is pivoting towards data center development and power infrastructure, with an initial buildout of 112 megawatts at its Corsicana campus, indicating a shift in its business model towards the
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Analyst Views on RIOT
Wall Street analysts forecast RIOT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for RIOT is 27.19 USD with a low forecast of 20.00 USD and a high forecast of 42.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
16 Buy
0 Hold
0 Sell
Strong Buy
Current: 17.550
Low
20.00
Averages
27.19
High
42.00
Current: 17.550
Low
20.00
Averages
27.19
High
42.00
About RIOT
Riot Platforms, Inc. is a Bitcoin mining and digital infrastructure company. The Company has Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas. It operates a Bitcoin-driven infrastructure platform. Its segments include Bitcoin Mining and Engineering. The Bitcoin Mining segment is engaged in Bitcoin mining activities. The Engineering segment designs and manufacturers power distribution equipment and custom engineered electrical products. This segment also provides electricity distribution product design, manufacturing, and installation services primarily focused on large-scale commercial and governmental customers and serves clients across a range of markets including data center, power generation, utility, water, industrial, and alternative energy. It is also focused on developing a portion of its power capacity for artificial intelligence (AI)/ high-performance computing (HPC) uses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Broad Peak Investment Advisers Acquires 1.41 Million Shares of Riot Platforms
- Share Acquisition: On January 29, Broad Peak Investment Advisers disclosed the acquisition of 1.41 million shares of Riot Platforms valued at $17.86 million, indicating strong conviction in the company's potential and reinforcing its position in the digital infrastructure sector.
- Asset Allocation: Following this transaction, Riot Platforms represents 3.2% of Broad Peak's 13F reportable AUM, highlighting its significance within the portfolio, particularly alongside software and semiconductor sectors.
- Financial Performance: Riot reported record revenue of $180.2 million in Q3, with net income of $104.5 million, marking a significant turnaround from a loss a year prior, driven by rising Bitcoin prices and increased mining output.
- Strategic Shift: Riot is pivoting towards data center development and power infrastructure, with an initial buildout of 112 megawatts at its Corsicana campus, indicating a shift in its business model towards the
Continue Reading