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

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In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $35.06, marking a -0.96% move from the previous day. This change lagged the S&P 500's daily loss of 0.2%.

Heading into today, shares of the company had gained 45.62% over the past month, outpacing the Business Services sector's gain of 3.89% and the S&P 500's gain of 2.11% 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.

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 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. 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 60.77% lower. RIOT is currently a Zacks Rank #5 (Strong Sell).

Valuation is also important, so investors should note that RIOT has a Forward P/E ratio of 46.28 right now. Its industry sports an average Forward P/E of 33.87, so we one might conclude that RIOT is trading at a premium comparatively.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 231, putting it in the bottom 10% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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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