11 Best High Short Interest Stocks With Biggest Upside Potential

5. Riot Platforms Inc. (NASDAQ:RIOT)

Number of Hedge Fund Holders: 57

Average Upside Potential: 69.03%

Riot Platforms Inc. (NASDAQ:RIOT) is one of the best high short interest stocks with biggest upside potential. On January 27, Keefe Bruyette analyst Stephen Glagola raised the firm’s price target on Riot Platforms to $23 from $16 while maintaining an Outperform rating, following the company’s 10-year 25MW Data Center Lease and Services Agreement with AMD at its Rockdale facility.

Glagola noted that this partnership, which is expected to generate ~$311 million in contract revenue, provides Riot Platforms with a high-quality tenant and meaningful organic demand visibility for its HPC and AI strategy. By committing roughly 21% of Rockdale’s capacity to this long-duration operating income profile, Riot Platforms maintains a cost structure that remains structurally below tier-3 builds, positioning the company to capitalize on surging infrastructure demand.

On January 20, Needham also raised its price target for Riot Platforms Inc. (NASDAQ:RIOT) to $30 from $28 with a Buy rating due to the company’s lease with AMD. The firm noted that while the lease economics are lower than those of industry peers, the project offers an attractive yield on cost due to a highly efficient capital expenditure of only $3.6 million per MW.

Riot Platforms Inc. (NASDAQ:RIOT), together with its subsidiaries, operates as a Bitcoin mining company in the US.