Riot Blockchain, Inc. (RIOT) Dips More Than Broader Markets: What You Should Know

In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $6.14, marking a -0.81% move from the previous day. This change lagged the S&P 500’s daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.25%.

Prior to today’s trading, shares of the company had lost 18.87% over the past month. This has lagged the Business Services sector’s loss of 15.34% and the S&P 500’s loss of 11.67% in that time.

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 $0.03 per share. This would mark a year-over-year decline of 88.46%. Meanwhile, our latest consensus estimate is calling for revenue of $58.4 million, down 9.9% from the prior-year quarter.

RIOT’s full-year Zacks Consensus Estimates are calling for earnings of -$2.50 per share and revenue of $301.07 million. These results would represent year-over-year changes of -516.67% and +41.19%, respectively.

Investors should also note any recent changes to analyst estimates for Riot Blockchain, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.

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. Within the past 30 days, our consensus EPS projection has moved 13.24% lower. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% 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 Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.