Riot Blockchain, Inc. (RIOT) closed at $7.53 in the last trading session, marking a -1.83% move from the previous day. The change lagged the S&P 500’s 0.25% daily gain. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.54%.
Today, shares of the company were down 51.79% over the past month. At the same time, the business services sector lost 14.15%, while the S&P 500 lost 11.03%.
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 a profit of -$0.11 per share. This would mark a year-over-year decline of 222.22%. Meanwhile, Zacks consensus estimate for revenue calls for net sales of $82.28 million, up 254.66% from the prior year period.
Zacks consensus estimates for the full year of RIOT call for earnings of $0.54 per share and revenue of $429.52 million. These results would represent year-over-year variations of -10% and +101.42%, respectively.
It’s also important to note recent changes to analyst estimates for Riot Blockchain, Inc. These revisions help show the ever-changing nature of near-term trading trends. Thus, positive revisions to estimates reflect analysts’ optimism about the company’s business and profitability.
Research indicates that these revisions to estimates are directly correlated to near-term stock price dynamics. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks ranking system ranges from #1 (strong buy) to #5 (strong sell). It has a remarkable track record of third-party audited success, with No. 1 stocks offering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has fallen 35.71% over the past month. Riot Blockchain, Inc. currently holds a Zacks rank of #3 (Hold).
As for its valuation, Riot Blockchain, Inc. holds a Forward P/E ratio of 14.2. This valuation marks a discount compared to the average Forward P/E of its sector of 19.09.
The technology services industry is part of the business services sector. This industry currently has a Zacks Industry Rank of 179, which places it in the bottom 29% 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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