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Riot Platforms, Inc. (RIOT) Suffers a Larger Drop Than the General Market: Key Insights
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Riot Platforms, Inc. (RIOT - Free Report) closed the most recent trading day at $9.66, moving -5.06% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.84% for the day. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
Prior to today's trading, shares of the company had gained 11.15% outpaced the Finance sector's loss of 0% and the S&P 500's gain of 1.44%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.26 per share, which would represent year-over-year growth of 18.75%. Our most recent consensus estimate is calling for quarterly revenue of $144.28 million, up 106.05% from the year-ago period.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of -$1.53 per share and revenue of $633.27 million. These results would represent year-over-year changes of -550% and +68.13%, respectively.
It is also important to note the recent changes to analyst estimates 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 business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.52% downward. As of now, Riot Platforms, Inc. holds a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Riot Platforms, Inc. (RIOT) Suffers a Larger Drop Than the General Market: Key Insights
Riot Platforms, Inc. (RIOT - Free Report) closed the most recent trading day at $9.66, moving -5.06% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.84% for the day. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
Prior to today's trading, shares of the company had gained 11.15% outpaced the Finance sector's loss of 0% and the S&P 500's gain of 1.44%.
The upcoming earnings release of Riot Platforms, Inc. will be of great interest to investors. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.26 per share, which would represent year-over-year growth of 18.75%. Our most recent consensus estimate is calling for quarterly revenue of $144.28 million, up 106.05% from the year-ago period.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of -$1.53 per share and revenue of $633.27 million. These results would represent year-over-year changes of -550% and +68.13%, respectively.
It is also important to note the recent changes to analyst estimates 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 business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.52% downward. As of now, Riot Platforms, Inc. holds a Zacks Rank of #5 (Strong Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.