CleanSpark (CLSK) ended the recent trading session at $19.28, demonstrating a -4.03% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 2.71%. On the other hand, the Dow registered a loss of 1.9%, and the technology-centric Nasdaq decreased by 3.56%.
Prior to today's trading, shares of the company had gained 96.96% outpaced the Finance sector's gain of 0.28% and the S&P 500's gain of 3.5%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.03, reflecting a 111.11% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $231.06 million, up 158.8% from the prior-year quarter.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of $1.34 per share and revenue of $769.78 million. These results would represent year-over-year changes of +615.38% and 0%, respectively.
Investors should also note any recent changes to analyst estimates for CleanSpark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 20.09% fall in the Zacks Consensus EPS estimate. As of now, CleanSpark holds a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 28.06 right now. This expresses a premium compared to the average Forward P/E of 12.29 of its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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