Riot Blockchain, Inc. (RIOT) Gains As Market Dips: What You Should Know

Riot Blockchain, Inc. (RIOT) closed at $6.83 in the latest trading session, marking a +1.94% move from the prior day. The stock outpaced the S&P 500’s daily loss of 0.21%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, added 0.03%.

Heading into today, shares of the company had lost 3.87% over the past month, outpacing the Business Services sector’s loss of 12.31% and the S&P 500’s loss of 9.7% 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 $0.04 per share. This would mark a year-over-year decline of 84.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $68.26 million, up 5.32% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.46 per share and revenue of $319.92 million, which would represent changes of -510% and +50.02%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Riot Blockchain, Inc.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 15.53% higher. Riot Blockchain, Inc. is currently sporting a Zacks Rank of #3 (Hold).

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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

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