Crispr Therapeutics shares tumble after significant earnings miss
On March 3, Marleau Hubert, a director at Riot Platforms, Inc. (NASDAQ:RIOT), a company with a market capitalization of $3.08 billion, sold 61,000 shares of the company’s common stock. According to InvestingPro analysis, the stock is currently trading below its Fair Value, with technical indicators suggesting oversold conditions. The shares were sold at an average price of $9.58 per share, resulting in a total transaction value of $584,380. Following this sale, Hubert retains ownership of 5,000 shares in the company. The transactions were conducted in a series of trades, with prices ranging from $9.5701 to $9.595 per share. The stock has shown significant volatility recently, with the current price at $8.88, trading at a P/E ratio of 22x. For deeper insights into RIOT’s valuation and 17 additional ProTips, visit InvestingPro.
In other recent news, Riot Platforms disclosed its February 2025 Bitcoin mining results, reporting the production of 470 Bitcoin, a 12% increase from the previous year. The company’s total deployed hash rate reached 33.6 exahashes per second, marking a significant year-over-year increase. Riot Platforms also held 18,692 Bitcoin by the end of February, reflecting a 132% rise from the same period last year. On the financial front, Riot Platforms reported a 34% increase in total revenue for 2024, reaching $376.7 million, with net income turning positive at $109.4 million. Despite these strong financial results, analysts have made adjustments to their outlooks. Cantor Fitzgerald reduced its price target for Riot Platforms to $21, while maintaining an Overweight rating, following a 105% year-over-year surge in Bitcoin mining revenue in Q4 2024. Needham also lowered its price target to $13.50, retaining a Buy rating, citing higher-than-expected SG&A expenses. Meanwhile, H.C. Wainwright maintained its $17 target and Buy rating, highlighting Riot’s strategic focus on high-performance computing (HPC) and artificial intelligence (AI) opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.