U.S. markets open in 5 hours 52 minutes
  • S&P Futures

    4,333.75
    -70.00 (-1.59%)
     
  • Dow Futures

    33,889.00
    -364.00 (-1.06%)
     
  • Nasdaq Futures

    14,180.50
    -320.50 (-2.21%)
     
  • Russell 2000 Futures

    1,998.00
    -33.70 (-1.66%)
     
  • Crude Oil

    83.58
    +0.27 (+0.32%)
     
  • Gold

    1,839.70
    -2.00 (-0.11%)
     
  • Silver

    23.75
    -0.05 (-0.21%)
     
  • EUR/USD

    1.1299
    -0.0031 (-0.27%)
     
  • 10-Yr Bond

    1.7350
    0.0000 (0.00%)
     
  • Vix

    32.73
    +3.88 (+13.45%)
     
  • GBP/USD

    1.3479
    -0.0011 (-0.08%)
     
  • USD/JPY

    113.9230
    -0.0370 (-0.03%)
     
  • BTC-USD

    36,153.78
    +974.24 (+2.77%)
     
  • CMC Crypto 200

    820.59
    +9.99 (+1.23%)
     
  • FTSE 100

    7,338.87
    +41.72 (+0.57%)
     
  • Nikkei 225

    27,131.34
    -457.03 (-1.66%)
     

Strength Seen in Riot Blockchain, Inc. (RIOT): Can Its 13.6% Jump Turn into More Strength?

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • RIOT

Riot Blockchain, Inc. (RIOT) shares ended the last trading session 13.6% higher at $31.90. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.3% gain over the past four weeks.

This increased investor optimism can be attributed to the increase in Bitcoin production.

This company is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +1125%. Revenues are expected to be $77.35 million, up 3044.3% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For Riot Blockchain, Inc., the consensus EPS estimate for the quarter has been revised 2.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on RIOT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Riot Blockchain, Inc. (RIOT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.