In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $14.98, marking a +1.28% move from the previous day. This move outpaced the S&P 500's daily gain of 0.62%. On the other hand, the Dow registered a gain of 0.99%, and the technology-centric Nasdaq increased by 0.65%.
Shares of the company have depreciated by 1.14% over the course of the past month, underperforming the Finance sector's gain of 2.85%, and the S&P 500's gain of 0.59%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.23, signifying a 152.27% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $159.57 million, indicating a 11.93% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.22 per share and revenue of $655.22 million, indicating changes of -164.71% and 0%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 162, this industry ranks in the bottom 34% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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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