Riot Blockchain, Inc. (RIOT) Falls More Than Broader Markets: What You Should Know
Riot Blockchain, Inc. (RIOT) closed at $7.16 in the last trading session, marking a move of -1.24% from the previous day. This change followed the S&P 500’s loss of 1.03% on the day. At the same time, the Dow lost 1.15%, and the technology-heavy Nasdaq rose 0.33%.
Heading into today, the company’s shares had gained 10.69% in the past month, outpacing the Business Services sector’s 5.4% loss and the S&P 500’s 3.51% loss in that time.
Investors will be hoping for strength from Riot Blockchain, Inc. as it nears its next earnings release. In that report, analysts expect Riot Blockchain, Inc. to post earnings of $0.04 per share. This will mark a year-over-year decrease of 84.62%. Meanwhile, our latest consensus estimate calls for revenue of $68.26 million, up 5.32% from the previous quarter.
RIOT’s Zacks Consensus Estimates for the full year call for earnings of -$2.46 per share and revenue of $319.92 million. These results will represent year-over-year changes of -510% and +50.02% respectively.
Any recent changes in analyst estimates for Riot Blockchain, Inc. should also be noted by investors. Recent revisions tend to reflect the latest business trends in the short term. As such, positive estimate revisions reflect analyst optimism about the company’s operations and profitability.
Research indicates that these estimate revisions are directly correlated with stock price momentum in the short term. To take advantage of this, we have developed Zacks Rank, a proprietary model that takes these estimate changes into account and provides an actionable ranking system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, externally audited track record of success, with the #1 stock delivering an average annual return of +25% since 1988. The Zacks Consensus EPS Estimate remained stagnant over the past month. Riot Blockchain, Inc. currently has a Zacks Rank #3 (Hold).
The technology services industry is part of the business services sector. This industry currently has a Zacks Industry Rank of 147, which places it in the bottom 42% of all 250+ industries.
Zacks Industry Rank includes are listed in order from best to worst in terms of the average Zacks Rank for the individual companies within each of these sectors. Our research shows that the 50% ranked industries outperform the bottom half by a factor of 2 to 1.
To follow RIOT in the upcoming trading sessions, be sure to use Zacks.com.
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