In the latest trading session, CleanSpark (CLSK) closed at $19.15, marking a -5.2% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.23%. Elsewhere, the Dow gained 0.34%, while the tech-heavy Nasdaq added 0.8%.
Coming into today, shares of the company had gained 35.84% in the past month. In that same time, the Finance sector lost 0.48%, while the S&P 500 gained 3.57%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.05, signifying a 118.52% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $238.76 million, up 167.42% from the prior-year quarter.
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.
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. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.93% higher. CleanSpark is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, CleanSpark is at present trading with a Forward P/E ratio of 26.17. Its industry sports an average Forward P/E of 12.3, so one might conclude that CleanSpark is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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