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Riot Blockchain, Inc. (RIOT) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $4.24, marking a +1.19% move from the previous day. This change outpaced the S&P 500's 1.06% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 0.4%.

Heading into today, shares of the company had lost 39.01% over the past month, lagging the Business Services sector's loss of 8.97% and the S&P 500's loss of 8.3% in that time.

Investors will be hoping for strength from Riot Blockchain, Inc. as it approaches its next earnings release. The company is expected to report EPS of -$0.11, down 184.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $82.95 million, up 141.48% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.75 per share and revenue of $373.06 million. These totals would mark changes of +25% and +74.95%, respectively, from last year.

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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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 27.78% lower. Riot Blockchain, Inc. is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Riot Blockchain, Inc.'s current valuation metrics, including its Forward P/E ratio of 5.57. For comparison, its industry has an average Forward P/E of 20.47, 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 151, putting it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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