CleanSpark (CLSK) closed at $8.85 in the latest trading session, marking a +0.86% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.67%. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 2.5%.
The company's shares have seen an increase of 0.46% over the last month, surpassing the Finance sector's loss of 4.45% and the S&P 500's loss of 6.57%.
The upcoming earnings release of CleanSpark will be of great interest to investors. On that day, CleanSpark is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 84.62%. Alongside, our most recent consensus estimate is anticipating revenue of $191.98 million, indicating a 71.72% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.98 per share and revenue of $810.72 million, indicating changes of +476.92% and +113.93%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, there's been no change in the Zacks Consensus EPS estimate. CleanSpark currently has a Zacks Rank of #3 (Hold).
In the context of valuation, CleanSpark is at present trading with a Forward P/E ratio of 8.95. This expresses a discount compared to the average Forward P/E of 8.98 of its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 90, finds itself in the top 37% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in 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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