12 Stocks Under $10 With High Upside Potential

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5. Riot Platforms, Inc. (NASDAQ:RIOT)

Share Price: $8.41

No. of Hedge Fund Holders: 38

Analyst Upside Potential: 105.11%

Riot Platforms, Inc. (NASDAQ:RIOT) is a Bitcoin mining and digital infrastructure company. The company has Bitcoin mining operations in central Texas and Kentucky, and electrical switchgear engineering and fabrication operations in Denver, Colorado. Riot Platforms is also exploring artificial intelligence and high-performance computing (HPC) to diversify and strengthen its revenue streams.

On February 25, Roth MKM analyst Darren Aftahi maintained a Buy rating on RIOT shares, keeping a price target of $20 per share. The analyst remains bullish on RIOT following remarkable results in 2024. Riot Platforms, Inc. (NASDAQ:RIOT) posted revenues of around $376.7 million for 2024, a 34% increase from a year ago. The company increased its self-mining hash rate by 154% in 2024, outpacing the global hash rate increase of 67%. RIOT ended the year holding 17,722 Bitcoins, a 141% rise from 2023, indicating a strong Bitcoin yield strategy. In addition, the company acquired E4A Solutions which will improve RIOT’s engineering business, offering higher-margin recurring services revenues.

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