CleanSpark (CLSK) closed the most recent trading day at $11.82, moving -4.21% from the previous trading session. This change lagged the S&P 500's 0.4% gain on the day. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq added 0.24%.
Heading into today, shares of the company had gained 14.15% over the past month, outpacing the Finance sector's gain of 3.3% and the S&P 500's gain of 4.61%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. On that day, CleanSpark is projected to report earnings of $0 per share, which would represent a year-over-year decline of 100%. In the meantime, our current consensus estimate forecasts the revenue to be $196.39 million, indicating a 88.64% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.62 per share and a revenue of $764.01 million, demonstrating changes of +338.46% and +101.6%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for CleanSpark. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 53.33% higher. At present, CleanSpark boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, CleanSpark is holding a Forward P/E ratio of 19.82. This indicates a premium in contrast to its industry's Forward P/E of 12.78.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 98, putting it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleanspark, Inc. (CLSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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