In the latest trading session, CleanSpark (CLSK) closed at $16.86, marking a -10.18% move from the previous day. This move lagged the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.71%, while the tech-heavy Nasdaq depreciated by 0.93%.
Coming into today, shares of the company had gained 34.94% in the past month. In that same time, the Finance sector lost 2.07%, while the S&P 500 gained 1.13%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.05, showcasing a 118.52% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $238.76 million, up 167.42% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.36 per share and a revenue of $775.56 million, representing changes of +623.08% and 0%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 last 30 days, the Zacks Consensus EPS estimate has moved 13.84% lower. CleanSpark is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 24.31 right now. This expresses a premium compared to the average Forward P/E of 12.2 of its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 37% of all industries, numbering over 250.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cleanspark, Inc. (CLSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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