12 Stocks Under $50 to Buy Now

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

Upside Potential as of January 21, 2026: 62.55%

Number of Hedge Fund Holders: 57

On January 20, Needham raised the price target on Riot Platforms, Inc. (NASDAQ:RIOT) to $30 from $28 and maintained a Buy rating, as reported by TheFly. This updated target, reflecting an upside potential of nearly 74%, is attributed to the company’s 25MW lease contract with AMD at its recently purchased Rockdale site.

The analyst says that the yield on cost is appealing, with capital expenditure forecasted to be just $3.6 million per megawatt, despite lease economics “significantly lower than peers.” With this view in mind, Needham slightly lifted its 2026 outlook, along with 2027 estimates and target multiple, on emerging High-Performance Computing revenue.

Earlier on January 16, BTIG reaffirmed its Buy rating and $28 price target on Riot Platforms, Inc. (NASDAQ:RIOT). In its analysis, the firm highlighted opportunities arising from data center expansion. What’s even more noteworthy is the company’s Corsicana location, which the firm believes is among the most appealing large-scale data center locations in the United States.

Riot Platforms, Inc. (NASDAQ:RIOT) is a Colorado-based Bitcoin mining company operating two segments: Bitcoin Mining and Engineering. Incorporated in 2000, the company offers facilities in Texas and mining sites in Kentucky.

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