12 Best High Volume Stocks to Buy According to Analysts

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6. Riot Platforms Inc. (NASDAQ:RIOT)

Number of Hedge Fund Holders: 37

Average Volume (3-Month): 33.917 million

Upside Potential as of February 19: 43.70%

Riot Platforms Inc. (NASDAQ:RIOT) is a multifaceted company at the intersection of cryptocurrency and infrastructure. It operates as a leading Bitcoin mining enterprise in North America. Beyond its mining operations, it provides data center hosting and engineering services. This includes designing and manufacturing power distribution equipment, and catering to clients spanning data centers, utilities, and alternative energy sectors.

Towards the end of January, Piper Sandler maintained an Overweight rating on the company, setting a $23 price target. They pointed out its study of using 600 MW of unused Corsicana site capacity for AI/HPC, potentially increasing earnings. Following management’s focus on AI/HPC and an activist investor’s stake, the company started a feasibility study. Piper Sandler estimates this could add $6.73 per share in value.

So now the company is actively pursuing growth in the AI/HPC sector by using its existing power infrastructure. Riot Platforms Inc. (NASDAQ:RIOT) has substantial power capacity: 700 MW at Rockdale, 1 gigawatt at Corsicana, and over 300 MW in Kentucky. The Corsicana facility is undergoing a second phase of development to reach its full 1-gigawatt capacity by 2026, with substation equipment already ordered. The company has initiated a formal feasibility study to assess this AI/HPC opportunity. It aims to capitalize on the rising demand for power assets and diversify its revenue streams, as well as utilize its infrastructure to serve the growing AI/HPC market.

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