CleanSpark (CLSK) closed at $13.43 in the latest trading session, marking a +1.17% move from the prior day. This move outpaced the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.03%, while the tech-heavy Nasdaq appreciated by 0.17%.
Coming into today, shares of the company had gained 27.35% in the past month. In that same time, the Finance sector lost 0.23%, while the S&P 500 gained 0.78%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.1, indicating a 42.86% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $186.66 million, showing a 15% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.07 per share and a revenue of $803.77 million, indicating changes of -90.14% and +4.89%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for CleanSpark. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 72.66% lower. Right now, CleanSpark possesses a Zacks Rank of #5 (Strong Sell).
Looking at valuation, CleanSpark is presently trading at a Forward P/E ratio of 189.57. This indicates a premium in contrast to its industry's Forward P/E of 11.91.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleanspark, Inc. (CLSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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