In the latest close session, CleanSpark (CLSK) was up +2.97% at $13.19. The stock's performance was ahead of the S&P 500's daily gain of 0.55%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 0.91%.
Coming into today, shares of the company had gained 12.37% in the past month. In that same time, the Finance sector gained 0.37%, while the S&P 500 gained 0.71%.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. In that report, analysts expect CleanSpark to post earnings of -$0.1 per share. This would mark a year-over-year decline of 42.86%. Our most recent consensus estimate is calling for quarterly revenue of $186.66 million, up 15% from the year-ago period.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of $0.07 per share and revenue of $803.77 million. These results would represent year-over-year changes of -90.14% and +4.89%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for CleanSpark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 72.66% lower. CleanSpark currently has a Zacks Rank of #4 (Sell).
Investors should also note CleanSpark's current valuation metrics, including its Forward P/E ratio of 183. This represents a premium compared to its industry average Forward P/E of 11.75.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 39% echelons 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.
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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