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Riot Blockchain, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Riot Blockchain, Inc. (RIOT - Free Report) closed at $9.76, marking a -1.71% move from the previous day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the company had gained 78.28% over the past month, outpacing the Business Services sector's gain of 14.25% and the S&P 500's gain of 12.15% in that time.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of $0.08 per share. This would mark a year-over-year decline of 38.46%. Our most recent consensus estimate is calling for quarterly revenue of $77.24 million, up 124.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.64 per share and revenue of $345.62 million. These totals would mark changes of +6.67% and +62.08%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 15.56. For comparison, its industry has an average Forward P/E of 26.12, which means Riot Blockchain, Inc. is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% 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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Riot Blockchain, Inc. (RIOT) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Riot Blockchain, Inc. (RIOT - Free Report) closed at $9.76, marking a -1.71% move from the previous day. This change lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.45%, and the tech-heavy Nasdaq lost 0.46%.
Heading into today, shares of the company had gained 78.28% over the past month, outpacing the Business Services sector's gain of 14.25% and the S&P 500's gain of 12.15% in that time.
Riot Blockchain, Inc. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of $0.08 per share. This would mark a year-over-year decline of 38.46%. Our most recent consensus estimate is calling for quarterly revenue of $77.24 million, up 124.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.64 per share and revenue of $345.62 million. These totals would mark changes of +6.67% and +62.08%, respectively, from last year.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Riot Blockchain, Inc. is holding a Forward P/E ratio of 15.56. For comparison, its industry has an average Forward P/E of 26.12, which means Riot Blockchain, Inc. is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 139, putting it in the bottom 45% 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.