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Cryptocurrency Stocks Rise Despite Piper Sandler Price Target Cuts: MARA and Hut 8 Gain 4%, Riot Holds Flat

Piper Sandler cut price targets on MARA, Riot and Hut 8, citing hotter inflation, higher oil prices that revived rate-hike concerns, and repriced credit for data center debt. Despite the cuts, MARA rose 4% to $7.65 and Hut 8 rose 4% to $70.61, while Riot gained only 0.5% to $14.04. Piper Sandler kept an Overweight rating on MARA and still said the shares look attractive after the selloff. Bitcoin was up 0.7% to $82,519 over 24 hours, and the CoinShares Bitcoin Mining and Digital Power ETF (WGMI) rose 1% to $31.95.

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Bitcoin

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MarketCrypto
ExchangeBinance
SectorLayer 1
Market cap$1.6T
Close on 10/19/202681,938.40
Change that session-0.22%
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