CleanSpark (CLSK) ended the recent trading session at $7.28, demonstrating a -0.07% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 2.24%. Elsewhere, the Dow saw a downswing of 1.73%, while the tech-heavy Nasdaq depreciated by 3.07%.
The company's shares have seen a decrease of 4.08% over the last month, not keeping up with the Finance sector's loss of 3.21% and outstripping the S&P 500's loss of 4.17%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. On that day, CleanSpark is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 84.62%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $191.98 million, up 71.72% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.98 per share and a revenue of $810.72 million, representing changes of +476.92% and +113.93%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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 company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, CleanSpark holds a Zacks Rank of #3 (Hold).
Investors should also note CleanSpark's current valuation metrics, including its Forward P/E ratio of 7.43. This valuation marks a discount compared to its industry's average Forward P/E of 9.02.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 78, which puts it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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