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Riot Platforms, Inc. (RIOT) Surges 15.0%: Is This an Indication of Further Gains?
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Riot Platforms, Inc. (RIOT - Free Report) shares soared 15% in the last trading session to close at $20.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 73.9% gain over the past four weeks.
The surge in RIOT's price can be attributed to the significant growth and increasing value of cryptocurrencies. As the digital asset market continues to expand and gain popularity, it has positively influenced the performance of RIOT and attracted investors to the company.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of +52%. Revenues are expected to be $83.01 million, up 13.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Riot Platforms, Inc., the consensus EPS estimate for the quarter has been revised 7.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RIOT going forward to see if this recent jump can turn into more strength down the road.
Riot Platforms, Inc. is part of the Zacks Technology Services industry. Sterling Check Corp. (STER - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $12.10. STER has returned -0.3% in the past month.
Sterling Check Corp.'s consensus EPS estimate for the upcoming report has changed +6.2% over the past month to $0.27. Compared to the company's year-ago EPS, this represents a change of -18.2%. Sterling Check Corp. currently boasts a Zacks Rank of #1 (Strong Buy).
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Riot Platforms, Inc. (RIOT) Surges 15.0%: Is This an Indication of Further Gains?
Riot Platforms, Inc. (RIOT - Free Report) shares soared 15% in the last trading session to close at $20.29. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 73.9% gain over the past four weeks.
The surge in RIOT's price can be attributed to the significant growth and increasing value of cryptocurrencies. As the digital asset market continues to expand and gain popularity, it has positively influenced the performance of RIOT and attracted investors to the company.
This company is expected to post quarterly loss of $0.24 per share in its upcoming report, which represents a year-over-year change of +52%. Revenues are expected to be $83.01 million, up 13.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Riot Platforms, Inc., the consensus EPS estimate for the quarter has been revised 7.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RIOT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Riot Platforms, Inc. is part of the Zacks Technology Services industry. Sterling Check Corp. (STER - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $12.10. STER has returned -0.3% in the past month.
Sterling Check Corp.'s consensus EPS estimate for the upcoming report has changed +6.2% over the past month to $0.27. Compared to the company's year-ago EPS, this represents a change of -18.2%. Sterling Check Corp. currently boasts a Zacks Rank of #1 (Strong Buy).