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Riot Blockchain, Inc. (RIOT) Gains But Lags Market: What You Should Know
Riot Blockchain, Inc. (RIOT - Free Report) closed the most recent trading day at $14.88, moving +0.61% from the previous trading session. This move lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 1.45%, and the Nasdaq, a tech-heavy index, added 0.36%.
Coming into today, shares of the company had lost 24.62% in the past month. In that same time, the Business Services sector lost 4.2%, while the S&P 500 lost 1.42%.
Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.08, down 188.89% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $86.52 million, up 272.93% from the prior-year quarter.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of $0.60 per share and revenue of $460.6 million. These results would represent year-over-year changes of 0% and +116%, respectively.
Any recent changes to analyst estimates for Riot Blockchain, Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 33.11% lower. Riot Blockchain, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 24.65. This valuation marks a premium compared to its industry's average Forward P/E of 20.74.
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 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.