In the latest trading session, CleanSpark (CLSK) closed at $10.61, marking a -3.19% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 1.18%, and the technology-dominated Nasdaq saw a decrease of 0.84%.
Heading into today, shares of the company had lost 43.87% over the past month, lagging the Finance sector's gain of 0.56% and the S&P 500's gain of 1.48%.
The upcoming earnings release of CleanSpark will be of great interest to investors. The company's upcoming EPS is projected at $0.05, signifying a 118.52% increase compared to the same quarter of the previous 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 full year, the Zacks Consensus Estimates are projecting earnings of $1.36 per share and revenue of $775.56 million, which would represent changes of +623.08% and 0%, respectively, from the prior year.
Any recent changes to analyst estimates for CleanSpark should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, CleanSpark boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 14.2 right now. Its industry sports an average Forward P/E of 12.05, so one might conclude that CleanSpark is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 73, this industry ranks in the top 30% of all industries, numbering over 250.
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.
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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