Riot Platforms, Inc. (RIOT) ended the recent trading session at $16.23, demonstrating a -6.08% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.5%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.43%.
Prior to today's trading, shares of the company had gained 28.57% outpaced the Finance sector's loss of 0.96% and the S&P 500's gain of 0.18%.
The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.22, showcasing a 150% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $158.39 million, showing a 11.1% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.2 per share and revenue of $654.04 million. These totals would mark changes of -158.82% and 0%, respectively, from last year.
Any recent changes to analyst estimates for Riot Platforms, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. 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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.68% higher. Riot Platforms, Inc. is currently a Zacks Rank #1 (Strong Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming 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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