How High Can Riot Stock Go

When is Riot Blockchain’s earnings date?

Riot Blockchain is expected to written report its fourth-quarter earnings anytime between Mar. 26 and May 10. On average, analysts await it to written report year-over-year growth, with EPS of -$0.07 on revenue of $3.six meg. In the quaternary quarter of 2019, the bitcoin mining company reported EPS of -$0.12 and revenue of $one.9 one thousand thousand, missing analysts’ estimates of $0.eleven and $2.7 million.

What are Reddit investors saying about Riot Blockchain stock ahead of its earnings?

Anarchism Blockchain has been among the most discussed stocks on Reddit, particularly in the WallStreetBets (or WSB) community—the group backside the GameStop (GME) and AMC Theatres frenzy. As WSB rules bar investors from making cryptocurrency a primary topic, discussions focus more on crypto-related stocks.

Reddit’s WSB investors tend to target heavily shorted stocks, triggering a “short clasp.” This is how GameStop, AMC Theatres, and BlackBerry stocks took off, giving pocket-size investors huge profits and leaving many Wall Street funds in the dust.

With a short involvement of more than than 12 percent, RIOT stock is a top bitcoin mining candidate for a WSB brusk squeeze. To compare, Marathon Patent Group’s (MARA) brusk interest is 11 percent, and Bit Digital’s (BTBT) is only i.4 pct. Support.com (SPRT), which is about to become a bitcoin mining stock after merging with Greenidge Generation Holdings, is only 0.23 pct shorted.

Anarchism Blockchain’southward (RIOT) stock forecast

Riot Blockchain shares have climbed more than than 6,000 per centum in the past year and 170 percent in 2021. However, Wall Street is bearish on RIOT alee of the visitor’s earnings date. Analysts’ average price target of $28 implies a 40 per centum downside for RIOT stock from its electric current price.

Is Riot Blockchain (RIOT) stock a proficient investment?

Riot Blockchain stock is pop with deep-pocketed investors, and its institutional investors include Morgan Stanley, BlackRock, and Squarepoint. Meanwhile, MARA and BTBT have institutional ownership of just 4 percent and 0.79 percent, respectively.

Bitcoin mining stocks track the cost of the baddest cryptocurrency. Whereas bitcoin has pulled dorsum from its contempo highs as short-term investors take profits, some predictions see bitcoin headed college in the long term. A higher bitcoin price would non simply make Riot’s mining business more assisting, but also draw more investors seeking indirect exposure to bitcoin.

Should you purchase or sell Riot Blockchain (Riot) stock earlier the company’due south earnings?

Bitcoin mining stocks take risen even faster than bitcoin itself—while RIOT and MARA stocks take risen more than vi,000 percent in the past twelvemonth, bitcoin has climbed just 720 percent. Investors seem to exist betting that these companies volition brand more money on bitcoin’s surging toll and cryptocurrencies’ growing adoption. Riot’due south electric current 40 percent disbelieve looks good, just that price may come down even further.

SPAC stocks have benefited from stimulus checks becoming available to retail investors. Just with a potential SEC crackdown on SPAC, many investors are speculating in other sectors, such as the cryptocurrency space. Riot investors may also want to keep an center on the upcoming Coinbase stock IPO.