CleanSpark (CLSK) closed at $12.00 in the latest trading session, marking a -2.44% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.99%, and the technology-dominated Nasdaq saw an increase of 0.65%.
Prior to today's trading, shares of the company had lost 11.45% lagged the Finance sector's gain of 2.85% and the S&P 500's gain of 0.59%.
The upcoming earnings release of CleanSpark will be of great interest to investors. The company is expected to report EPS of -$0.07, unchanged from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $197.93 million, reflecting a 21.94% rise from the equivalent quarter last year.
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.
It is also important to note the recent changes to analyst estimates for CleanSpark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 22.42% downward. CleanSpark is currently a Zacks Rank #4 (Sell).
Looking at its valuation, CleanSpark is holding a Forward P/E ratio of 48.05. This valuation marks a premium compared to its industry average Forward P/E of 12.07.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming 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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