Riot Blockchain, Inc. (RIOT) closed the most recent trading day at $31.57, moving -1.9% from the previous trading session. This change lagged the S&P 500’s 1.4% gain on the day.
Prior to today’s trading, shares of the company had gained 40.89% over the past month. This has outpaced the Business Services sector’s gain of 2.8% and the S&P 500’s gain of 1.07% in that time.
Investors will be hoping for strength from RIOT as it approaches its next earnings release. The company is expected to report EPS of $0.06, up 119.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $28.75 million, up 1381.96% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.77 per share and revenue of $173.35 million, which would represent changes of +185.19% and +1334.9%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for RIOT. 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. 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, 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 60.77% lower within the past month. RIOT is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, RIOT is holding a Forward P/E ratio of 42.06. This represents a premium compared to its industry’s average Forward P/E of 33.06.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 13% 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.
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