Riot Blockchain, Inc. (RIOT) closed the last trading day at $19.27, which is -1.93% from the previous trading session. That move lagged the S&P 500’s 1.81% daily loss. Meanwhile, the Dow Jones lost 1.47% and the tech-heavy Nasdaq lost 0.51%.
Prior to today’s session, the company’s shares were down 7% in the past month. This was lower than the 3% loss in the business services sector and the 1.84% loss in the S&P 500 during this period.
Wall Street will be looking for positivity from Riot Blockchain, Inc. as its next earnings report date nears. In this report, analysts expect Riot Blockchain, Inc. to post earnings of $0.12 per share. That would mark a 25% year-over-year decline. Meanwhile, our latest consensus estimate calls for revenue of $91.18 million, up 1623.67% from the prior year quarter.
Investors should also note any recent changes to analyst estimates for Riot Blockchain, Inc. These recent revisions tend to reflect the evolving nature of near-term business trends. With this in mind, we can view positive estimate revisions as a sign of optimism about the company’s business prospects.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. To benefit from this, we have developed the Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive track record of outperformance verified by external audits, with #1 stocks generating an average annual return of +25% since 1988 Over the past month, the Zacks Consensus EPS estimate fell 30.23%. Riot Blockchain, Inc. currently has a Zacks Rank of #5 (strong selling).
Investors should also note Riot Blockchain, Inc.’s current valuation metrics, including its Forward P/E ratio of 31.82. This valuation marks a premium compared to the average Forward P/E of its sector of 23.68.
The technology services industry is part of the business services sector. This group has a Zacks Industry Rank of 149, which places it in the bottom 42% of all 250+ industries.
The Zacks Industry Rankings are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these industries. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and more, at Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
