B. Riley lowered the firm’s price target on Riot Platforms to $8 from $11 and keeps a Buy rating on the shares following the Q4 results. The company’s February production of 675 bitcoin, down 8.8% from January, came slightly below the firms’ estimates but was largely a function of global network hash rate assumption, the analyst tells investors in a research note. The firm now thinks Riot will achieve its 12.5 EH/s target in the beginning of Q4, which is slightly more conservative than its previous estimate.
Published first on TheFly
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Read More on RIOT:
- Riot Announces February 2023 Production and Operations Updates
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