Riot Produces 412 Bitcoin in September 2024 and Achieves Q3 Hash Rate Target, with 28.2 EH/s Deployed CASTLE ROCK, Colo., Oct. 3, 2024 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announces unaudited production and operations updates for September 2024. Bitcoin Production and Operations Updates for September 2024 Riot's Corsicana FacilityRiot's Corsicana Facility Riot's Corsicana Facility Phase 1Riot's Cors ...

In the latest trading session, Riot Platforms, Inc. (RIOT) closed at $7.44, marking a -1.2% move from the previous day. This change lagged the S&P 500's daily loss of 0.19%. At the same time, the Dow lost 0.7%, and the tech-heavy Nasdaq gained 0.04%. Prior to today's trading, shares of the company had lost 4.68% over the past month. This has lagged the Business Services sector's gain of 4.37% and the S&P 500's gain of 1.95% in that time. Analysts and investors alike will be keeping a close eye on the perfor ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Riot Platforms, Inc. (RIOT) . Riot Platforms, Inc. currently has an averag ...

Riot Platforms, Inc. (RIOT) has experienced a 52.7% decline in its stock year to date, a sharp contrast to the 25.1% growth seen in its industry and the 19.6% increase in the Zacks S&P 500 composite. This downturn mirrors the performance of other cryptocurrency-focused stocks, such as Cipher Mining (CIFR) , down 27.6%, and Marathon Digital (MARA) , which has fallen 31.6% during the same period. Year-to-Date Price Performance Image Source: Zacks Investment Research The stock recently closed at $7.33, hoverin ...

Riot Platforms, Inc. (RIOT) closed the latest trading day at $7.22, indicating a +0.7% change from the previous session's end. The stock lagged the S&P 500's daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%. Heading into today, shares of the company had lost 14.13% over the past month, lagging the Business Services sector's gain of 6.45% and the S&P 500's gain of 1.27% in that time. Analysts and investors alike will be keeping a close eye on the performance o ...

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Riot Platforms, Inc. (RIOT), and emphasizes the importance of using these recommendations in conjunction with other analytical tools like the Zacks Rank for making informed investment decisions [1][3]. Brokerage Recommendations for RIOT - Riot Platforms, Inc. has an average brokerage recommendation (ABR) of 1.17, indicating a consensus between Strong Buy and Buy, with 10 out of 12 recommendations classified as Strong Buy and 2 as Buy, representing 83.3% and 16.7% respectively [2]. - Despite the positive ABR, the article cautions against making investment decisions solely based on this metric, as studies show limited success of brokerage recommendations in predicting stock price increases [3]. Analyst Bias and Its Implications - Brokerage analysts tend to exhibit a strong positive bias in their ratings due to vested interests, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [4]. - This misalignment of interests can lead to misleading insights regarding a stock's future price movements, suggesting that investors should validate brokerage recommendations with their own analysis [5][8]. Zacks Rank as a Reliable Tool - The Zacks Rank, which classifies stocks from 1 (Strong Buy) to 5 (Strong Sell), is presented as a more reliable indicator of near-term price performance, based on earnings estimate revisions [6][9]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in analysts' earnings estimates, which correlates strongly with stock price movements [10]. Current Earnings Estimates for RIOT - The Zacks Consensus Estimate for Riot Platforms, Inc. remains unchanged at $0.07 for the current year, indicating steady analyst views on the company's earnings prospects [11]. - The unchanged consensus estimate, along with other factors, has resulted in a Zacks Rank of 3 (Hold) for Riot Platforms, Inc., suggesting caution despite the positive ABR [12].

Riot Produces 322 Bitcoin in August 2024 and Exceeds 10,000 Bitcoin Held CASTLE ROCK, Colo., Sept. 5, 2024 /PRNewswire/ -- Riot Platforms, Inc. (NASDAQ: RIOT) ("Riot" or "the Company"), an industry leader in vertically integrated Bitcoin ("BTC") mining, announces unaudited production and operations updates for August 2024. Riot is currently developing Phase 1 (400 MW) of the Company's Corsicana Facility.Riot is currently developing Phase 1 (400 MW) of the Company's Corsicana Facility. Building B1 at Riot's ...

Riot Platforms, Inc. (RIOT) reported $70.02 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 8.8%. EPS of -$0.32 for the same period compares to -$0.17 a year ago. The reported revenue represents a surprise of -0.63% over the Zacks Consensus Estimate of $70.46 million. With the consensus EPS estimate being -$0.16, the EPS surprise was -100.00%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

Riot Platforms, Inc. (RIOT) came out with a quarterly loss of $0.32 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.21 per share when it actually produced earnings of $0.81, delivering a surprise of 485.71%. Over the last four quarters, the company has ...

Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings. Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the siz ...