In the latest close session, CleanSpark (CLSK) was down 5.33% at $14.03. This move lagged the S&P 500's daily loss of 1.07%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq decreased by 1.69%.
Shares of the company have appreciated by 23.71% over the course of the past month, outperforming the Finance sector's gain of 2.46%, and the S&P 500's gain of 0.94%.
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 -$0.07, reflecting no change from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $197.93 million, showing a 21.94% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.26 per share and a revenue of $858.9 million, representing changes of -63.38% and +12.08%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 66.84% lower. 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 57.89. This indicates a premium in contrast to its industry's Forward P/E of 12.42.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 85, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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