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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 at $7.53 in the latest trading session, marking a -1.83% move from the prior day. This change lagged the S&P 500's daily gain of 0.25%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.54%.

Coming into today, shares of the company had lost 51.79% in the past month. In that same time, the Business Services sector lost 14.15%, while the S&P 500 lost 11.03%.

Wall Street will be looking for positivity from Riot Blockchain, Inc. as it approaches its next earnings report date. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $82.28 million, up 254.66% from the year-ago period.

RIOT's full-year Zacks Consensus Estimates are calling for earnings of $0.54 per share and revenue of $429.52 million. These results would represent year-over-year changes of -10% and +101.42%, respectively.

It is also important to note the recent changes to analyst estimates for Riot Blockchain, Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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. The Zacks Consensus EPS estimate has moved 35.71% lower within the past month. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 14.2. This valuation marks a discount compared to its industry's average Forward P/E of 19.09.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 179, 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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