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Riot Platforms, Inc. (RIOT) Registers a Bigger Fall Than the Market: Important Facts to Note
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Riot Platforms, Inc. (RIOT - Free Report) ended the recent trading session at $9.01, demonstrating a -0.61% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The company's stock has dropped by 19.35% in the past month, falling short of the Business Services sector's loss of 6.26% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. Meanwhile, our latest consensus estimate is calling for revenue of $84.87 million, up 83.35% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.06 per share and a revenue of $332.25 million, demonstrating changes of -125.53% and +28.2%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% 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.
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) Registers a Bigger Fall Than the Market: Important Facts to Note
Riot Platforms, Inc. (RIOT - Free Report) ended the recent trading session at $9.01, demonstrating a -0.61% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.13%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 0.12%.
The company's stock has dropped by 19.35% in the past month, falling short of the Business Services sector's loss of 6.26% and the S&P 500's loss of 5.53%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. Meanwhile, our latest consensus estimate is calling for revenue of $84.87 million, up 83.35% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of -$1.06 per share and a revenue of $332.25 million, demonstrating changes of -125.53% and +28.2%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Riot Platforms, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.24% lower. Riot Platforms, Inc. is currently a Zacks Rank #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.