Riot Platforms, Inc. (RIOT) ended the recent trading session at $18.10, demonstrating a -5.93% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 2.06%. Meanwhile, the Dow experienced a drop of 1.76%, and the technology-dominated Nasdaq saw a decrease of 2.39%.
The company's shares have seen an increase of 33.61% over the last month, surpassing the Finance sector's gain of 1.72% and the S&P 500's gain of 1.63%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. It is anticipated that the company will report an EPS of -$0.23, marking a 152.27% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $158.35 million, reflecting a 11.08% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.22 per share and a revenue of $654.04 million, demonstrating changes of -164.71% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually 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. This industry, currently bearing a Zacks Industry Rank of 158, finds itself in the bottom 36% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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