Riot Blockchain, Inc. (RIOT) Dips More Than Broader Markets: What You Should Know
Riot Blockchain, Inc. (RIOT) closed at $7.16 in the latest trading session, marking a -1.24% move from the prior day. This change lagged the S&P 500's 1.03% loss on the day. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.33%.
Heading into today, shares of the company had gained 10.69% over the past month, outpacing the Business Services sector's loss of 5.4% and the S&P 500's loss of 3.51% in that time.
Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of $0.04 per share. This would mark a year-over-year decline of 84.62%. Meanwhile, our latest consensus estimate is calling for revenue of $68.26 million, up 5.32% from the prior-year quarter.
RIOT's full-year Zacks Consensus Estimates are calling for earnings of -$2.46 per share and revenue of $319.92 million. These results would represent year-over-year changes of -510% and +50.02%, respectively.
Any recent changes to analyst estimates for Riot Blockchain, Inc. should also be noted by investors. Recent revisions tend to reflect the latest 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. 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 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 remained stagnant within the past month. Riot Blockchain, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
To follow RIOT in the coming trading sessions, be sure to utilize Zacks.com.
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