In the latest close session, Riot Platforms, Inc. (RIOT) was down 3.86% at $12.70. The stock's performance was behind the S&P 500's daily loss of 0.14%. On the other hand, the Dow registered a loss of 0.2%, and the technology-centric Nasdaq decreased by 0.24%.
Shares of the company witnessed a loss of 14.66% over the previous month, trailing the performance of the Finance sector with its gain of 2.19%, and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.23, indicating a 152.27% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $159.57 million, reflecting a 11.93% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.22 per share and a revenue of $655.22 million, signifying shifts of -164.71% and +73.96%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 111, this industry ranks in the top 45% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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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