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Riot Blockchain, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
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Riot Blockchain, Inc. (RIOT - Free Report) closed the most recent trading day at $10.94, moving -0.36% from the previous trading session. This move lagged the S&P 500's daily gain of 2.48%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 50.18% over the past month, lagging the Business Services sector's loss of 6.7% and the S&P 500's loss of 7.81% in that time.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 222.22%. Our most recent consensus estimate is calling for quarterly revenue of $88.42 million, up 281.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $456.52 million. These totals would mark changes of -10% and +114.08%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Riot Blockchain, Inc.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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 35.71% lower within the past month. Riot Blockchain, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 20.33. For comparison, its industry has an average Forward P/E of 19.75, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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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Riot Blockchain, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
Riot Blockchain, Inc. (RIOT - Free Report) closed the most recent trading day at $10.94, moving -0.36% from the previous trading session. This move lagged the S&P 500's daily gain of 2.48%. At the same time, the Dow added 1.85%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had lost 50.18% over the past month, lagging the Business Services sector's loss of 6.7% and the S&P 500's loss of 7.81% in that time.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of -$0.11 per share. This would mark a year-over-year decline of 222.22%. Our most recent consensus estimate is calling for quarterly revenue of $88.42 million, up 281.13% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.54 per share and revenue of $456.52 million. These totals would mark changes of -10% and +114.08%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Riot Blockchain, Inc.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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. The Zacks Consensus EPS estimate has moved 35.71% lower within the past month. Riot Blockchain, Inc. currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 20.33. For comparison, its industry has an average Forward P/E of 19.75, which means Riot Blockchain, Inc. is trading at a premium to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 184, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.