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Riot Blockchain, Inc. (RIOT) Gains As Market Dips: What You Should Know

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Riot Blockchain, Inc. (RIOT - Free Report) closed the most recent trading day at $33.45, moving +1.52% from the previous trading session. This change outpaced the S&P 500's 0.18% loss on the day.

Coming into today, shares of the company had lost 9.05% in the past month. In that same time, the Business Services sector lost 0.48%, while the S&P 500 gained 2.44%.

RIOT will be looking to display strength as it nears its next earnings release. On that day, RIOT is projected to report earnings of $0.05 per share, which would represent year-over-year growth of 116.13%. Our most recent consensus estimate is calling for quarterly revenue of $29.1 million, up 1400% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $0.76 per share and revenue of $174.05 million, which would represent changes of +181.48% and +1340.69%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for RIOT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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, the Zacks Consensus EPS estimate has moved 0.65% lower. RIOT is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, RIOT is holding a Forward P/E ratio of 43.35. This valuation marks a premium compared to its industry's average Forward P/E of 32.54.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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