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Here's Why Riot Platforms, Inc. (RIOT) Fell More Than Broader Market
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Riot Platforms, Inc. (RIOT - Free Report) closed the latest trading day at $9.15, indicating a -0.54% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
Heading into today, shares of the company had lost 16.14% over the past month, lagging the Business Services sector's loss of 3.37% and the S&P 500's loss of 2.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $77.31 million, indicating a 67.02% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.07 per share and a revenue of $324.23 million, demonstrating changes of -127.66% and +25.1%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 past month, there's been a 0.24% fall in the Zacks Consensus EPS estimate. Currently, Riot Platforms, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Here's Why Riot Platforms, Inc. (RIOT) Fell More Than Broader Market
Riot Platforms, Inc. (RIOT - Free Report) closed the latest trading day at $9.15, indicating a -0.54% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Meanwhile, the Dow experienced a rise of 0.12%, and the technology-dominated Nasdaq saw a decrease of 1.23%.
Heading into today, shares of the company had lost 16.14% over the past month, lagging the Business Services sector's loss of 3.37% and the S&P 500's loss of 2.4% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. Alongside, our most recent consensus estimate is anticipating revenue of $77.31 million, indicating a 67.02% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.07 per share and a revenue of $324.23 million, demonstrating changes of -127.66% and +25.1%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 past month, there's been a 0.24% fall in the Zacks Consensus EPS estimate. Currently, Riot Platforms, Inc. is carrying a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 35% echelons 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.