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Riot Blockchain, Inc. (RIOT) Stock Moves -0.24%: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Riot Blockchain, Inc. (RIOT) closed at $29.30, marking a -0.24% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.91%.

Coming into today, shares of the company had lost 8.45% in the past month. In that same time, the Business Services sector gained 1.31%, while the S&P 500 gained 0.01%.

Investors will be hoping for strength from RIOT as it approaches its next earnings release. The company is expected to report EPS of $0.45, up 1225% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $84.4 million, up 3330.89% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.37 per share and revenue of $256.8 million. These totals would mark changes of +407.41% and +2025.65%, respectively, from last year.

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Investors should also note any recent changes to analyst estimates for RIOT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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. The Zacks Consensus EPS estimate has moved 68.42% higher within the past month. RIOT is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note RIOT's current valuation metrics, including its Forward P/E ratio of 21.44. Its industry sports an average Forward P/E of 29.96, so we one might conclude that RIOT is trading at a discount comparatively.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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