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Riot Platforms, Inc. (RIOT) Suffers a Larger Drop Than the General Market: Key Insights
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In the latest close session, Riot Platforms, Inc. (RIOT - Free Report) was down 7.62% at $14.01. The stock trailed the S&P 500, which registered a daily loss of 1.74%. Elsewhere, the Dow saw a downswing of 1.01%, while the tech-heavy Nasdaq depreciated by 2.38%.
Prior to today's trading, shares of the company had lost 11.24% lagged the Finance sector's loss of 6.39% and the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.29, up 67.78% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $138.82 million, indicating a 13.98% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.06 per share and revenue of $619.21 million, indicating changes of +45.64% and -4.36%, respectively, compared to the previous year.
Investors might also notice 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 44.03% decrease. 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 bearing a Zacks Industry Rank of 148, finds itself in the bottom 40% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Riot Platforms, Inc. (RIOT) Suffers a Larger Drop Than the General Market: Key Insights
In the latest close session, Riot Platforms, Inc. (RIOT - Free Report) was down 7.62% at $14.01. The stock trailed the S&P 500, which registered a daily loss of 1.74%. Elsewhere, the Dow saw a downswing of 1.01%, while the tech-heavy Nasdaq depreciated by 2.38%.
Prior to today's trading, shares of the company had lost 11.24% lagged the Finance sector's loss of 6.39% and the S&P 500's loss of 4.99%.
The investment community will be closely monitoring the performance of Riot Platforms, Inc. in its forthcoming earnings report. The company is expected to report EPS of -$0.29, up 67.78% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $138.82 million, indicating a 13.98% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.06 per share and revenue of $619.21 million, indicating changes of +45.64% and -4.36%, respectively, compared to the previous year.
Investors might also notice 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 44.03% decrease. 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 bearing a Zacks Industry Rank of 148, finds itself in the bottom 40% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.