Riot Blockchain, Inc. (RIOT) Dips More Than Broader Markets: What You Should Know

Riot Blockchain, Inc. (RIOT) closed the most recent trading day at $19.27, moving -1.93% from the previous trading session. This move lagged the S&P 500's daily loss of 1.81%. At the same time, the Dow lost 1.47%, and the tech-heavy Nasdaq lost 0.51%.

Prior to today's trading, shares of the company had lost 7% over the past month. This has lagged the Business Services sector's loss of 3% and the S&P 500's loss of 1.84% in that time.

Wall Street will be looking for positivity from Riot Blockchain, Inc. as it approaches its next earnings report date. In that report, analysts expect Riot Blockchain, Inc. to post earnings of $0.12 per share. This would mark a year-over-year decline of 25%. Meanwhile, our latest consensus estimate is calling 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 short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 30.23% lower. Riot Blockchain, Inc. currently has a Zacks Rank of #5 (Strong Sell).

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 its industry's average Forward P/E of 23.68.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. 

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.