On August 18, Riot Platforms rose 5.01% in regular trading, trading at $20.005/share, with turnover of $172 million.

The stock continues to gain momentum following its landmark $9.1 billion compute agreement with Anthropic announced on August 11, and subsequent analyst upgrades. On August 12, Macquarie raised its price target on Riot Platforms to $35 from $30 while maintaining an Outperform rating, and Piper Sandler lifted its target to $25. The deal involves a 20-year, 191-megawatt data center lease with the frontier AI laboratory, marking a pivotal step in Riot Platforms' transformation toward AI/HPC infrastructure.

Additionally, Morgan Stanley initiated coverage with an Overweight rating in late July, and Citi previously raised its target to $28, reflecting broad institutional confidence in the company's strategic pivot. While Q2 EPS of -$0.68 significantly missed the -$0.28 consensus estimate, revenue of $174.2 million beat the $152 million expectation by 14.6%, underscoring strong top-line growth amid the transition.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)