CleanSpark (CLSK) ended the recent trading session at $10.91, demonstrating a -4.3% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq decreased by 0.09%.
Heading into today, shares of the company had lost 15.24% over the past month, lagging the Finance sector's gain of 4.37% and the S&P 500's gain of 2.57%.
The investment community will be paying close attention to the earnings performance of CleanSpark in its upcoming release. It is anticipated that the company will report an EPS of -$0.07, marking stability compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $197.93 million, indicating a 21.94% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.26 per share and revenue of $858.9 million, indicating changes of -63.38% and +12.08%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 59.62% lower. At present, CleanSpark boasts a Zacks Rank of #4 (Sell).
Looking at its valuation, CleanSpark is holding a Forward P/E ratio of 44.53. This valuation marks a premium compared to its industry average Forward P/E of 12.43.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 102, placing it within the top 42% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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