In the latest close session, CleanSpark (CLSK) was down 2.13% at $17.42. The stock's change was less than the S&P 500's daily gain of 0.17%. Elsewhere, the Dow saw a downswing of 0.48%, while the tech-heavy Nasdaq appreciated by 0.46%.
Coming into today, shares of the company had gained 11.67% in the past month. In that same time, the Finance sector lost 1.38%, while the S&P 500 gained 2.38%.
The investment community will be paying close attention to the earnings performance of CleanSpark in its upcoming release. The company's earnings per share (EPS) are projected to be $0.05, reflecting a 118.52% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $238.76 million, up 167.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.36 per share and revenue of $775.56 million, indicating changes of +623.08% and 0%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for CleanSpark. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.93% increase. CleanSpark presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 23.06 right now. This expresses a premium compared to the average Forward P/E of 11.35 of its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 34% of over 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 follow all of these stock-moving metrics, and many 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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