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

Riot Blockchain, Inc. (RIOT) closed at $37.67 in the latest trading session, marking a -0.37% move from the prior day. This change lagged the S&P 500’s 0.13% gain on the day.

Coming into today, shares of the company had gained 29.35% in the past month. In that same time, the Business Services sector gained 3.74%, while the S&P 500 gained 2.16%.

RIOT will be looking to display strength as it nears its next earnings release. In that report, analysts expect RIOT to post earnings of $0.06 per share. This would mark year-over-year growth of 119.35%. Meanwhile, our latest consensus estimate is calling for revenue of $28.75 million, up 1381.96% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.77 per share and revenue of $173.35 million. These totals would mark changes of +185.19% and +1334.9%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for RIOT. These revisions typically reflect the latest short-term business trends, which can change frequently. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.29% higher. RIOT is currently sporting a Zacks Rank of #5 (Strong Sell).

Investors should also note RIOT’s current valuation metrics, including its Forward P/E ratio of 49.42. This valuation marks a premium compared to its industry’s average Forward P/E of 33.21.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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.

To follow RIOT in the coming trading sessions, be sure to utilize

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