Riot Platforms, Inc. (RIOT) closed at $15.65 in the latest trading session, marking a -4.57% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. Meanwhile, the Dow gained 1.36%, and the Nasdaq, a tech-heavy index, added 0.72%.
Shares of the company have appreciated by 41.5% over the course of the past month, outperforming the Finance sector's gain of 2.7%, and the S&P 500's gain of 2.38%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.19, reflecting a 64.81% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $165.66 million, up 95.38% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.67 per share and a revenue of $665.63 million, signifying shifts of -297.06% and +76.72%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Riot Platforms, Inc. boasts a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 49, this industry ranks in the top 20% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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