Yahoo Finance Riot Platforms, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $6.60, marking a -1.2% move from the previous day. This change lagged the S&P 500's 1.29% gain on the day. At the same time, the Dow added 0.78%, and the tech-heavy Nasdaq lost 4.94%.
Prior to today's trading, shares of the company had gained 36.6% over the past month. This has outpaced the Business Services sector's gain of 6.33% and the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Riot Platforms, Inc. as it approaches its next earnings report date. In that report, analysts expect Riot Platforms, Inc. to post earnings of -$0.14 per share. This would mark year-over-year growth of 46.15%. Meanwhile, our latest consensus estimate is calling for revenue of $57.53 million, down 36.71% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Riot Platforms, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 175% lower within the past month. Riot Platforms, Inc. currently has a Zacks Rank of #4 (Sell).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report
