In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $24.66, marking a -10.23% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 2.65%. Meanwhile, the Dow experienced a drop of 1.35%, and the technology-dominated Nasdaq saw a decrease of 4.18%.
Shares of the company witnessed a gain of 13.94% over the previous month, beating the performance of the Finance sector with its gain of 2.8%, and the S&P 500's gain of 5.47%.
The investment community will be paying close attention to the earnings performance of Riot Platforms, Inc. in its upcoming release. On that day, Riot Platforms, Inc. is projected to report earnings of -$0.21 per share, which would represent a year-over-year decline of 136.84%. In the meantime, our current consensus estimate forecasts the revenue to be $148.71 million, indicating a 2.8% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.08 per share and a revenue of $647.34 million, signifying shifts of -6.67% and -0.02%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, there's been a 8.52% fall in the Zacks Consensus EPS estimate. Riot Platforms, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 Report
This article originally published on Zacks Investment Research (zacks.com).