Riot Platforms, Inc. (RIOT) Stock Slides as Market Rises: Facts to Know Before You Trade

In the latest market close, Riot Platforms, Inc. (RIOT) reached $7.76, with a -0.77% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.64%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 0.31%.Shares of the company have depreciated by 36.27% over the course of the past month, underperforming the Business Services sector's loss of 10.4% and the S&P 500's loss of 7.69%.Market participants will be closely following the financial results of Riot Platforms, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.20, showcasing a 124.69% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $157.13 million, indicating a 98.15% increase compared to the same quarter of the previous year.RIOT's full-year Zacks Consensus Estimates are calling for earnings of -$0.68 per share and revenue of $694.68 million. These results would represent year-over-year changes of -300% and +84.43%, respectively.It's also important for investors to be aware of any recent modifications to analyst estimates for Riot Platforms, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.55% lower. Currently, Riot Platforms, Inc. is carrying a Zacks Rank of #3 (Hold).The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 67, placing it within the top 27% of over 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks