Riot Platforms, Inc. (RIOT) closed the most recent trading day at $14.20, moving -4.09% from the previous trading session. This move lagged the S&P 500's daily loss of 1.57%. Meanwhile, the Dow experienced a drop of 1.34%, and the technology-dominated Nasdaq saw a decrease of 2.04%.
Shares of the company witnessed a loss of 14.5% over the previous month, trailing the performance of the Finance sector with its loss of 0.4%, and the S&P 500's loss of 0.29%.
Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. The company is expected to report EPS of -$0.22, down 150% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $157.36 million, indicating a 10.38% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.2 per share and a revenue of $653.01 million, indicating changes of -158.82% and +73.37%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.68% higher. Riot Platforms, Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the 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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