In the latest close session, CleanSpark (CLSK) was down 6.39% at $12.59. The stock's change was less than the S&P 500's daily loss of 0.13%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.72%.
Prior to today's trading, shares of the company had gained 32.9% outpaced the Finance sector's loss of 0.7% and the S&P 500's gain of 0.78%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.1, marking a 42.86% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $186.66 million, up 15% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.07 per share and a revenue of $803.77 million, representing changes of -90.14% and +4.89%, respectively, from the prior year.
Any recent changes to analyst estimates for CleanSpark should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 72.66% lower. CleanSpark currently has a Zacks Rank of #4 (Sell).
Looking at valuation, CleanSpark is presently trading at a Forward P/E ratio of 192.14. This indicates a premium in contrast to its industry's Forward P/E of 11.82.
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 strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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