CleanSpark (CLSK) closed the most recent trading day at $11.61, moving -3.17% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.65%. Meanwhile, the Dow gained 0.48%, and the Nasdaq, a tech-heavy index, added 0.82%.
Shares of the company witnessed a loss of 19.1% over the previous month, trailing the performance of the Finance sector with its gain of 3%, and the S&P 500's gain of 1.15%.
Market participants will be closely following the financial results of CleanSpark in its upcoming release. In that report, analysts expect CleanSpark to post earnings of -$0.07 per share. This would mark no growth from the year-ago period. 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 full year, the Zacks Consensus Estimates project earnings of $0.26 per share and a revenue of $858.9 million, demonstrating changes of -63.38% and +12.08%, respectively, from the preceding 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been no change in the Zacks Consensus EPS estimate. CleanSpark is currently sporting a Zacks Rank of #4 (Sell).
Digging into valuation, CleanSpark currently has a Forward P/E ratio of 46.84. This indicates a premium in contrast to its industry's Forward P/E of 11.81.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 164, finds itself in the bottom 34% echelons 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.
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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