In the latest trading session, CleanSpark (CLSK) closed at $8.81, marking a +1.61% move from the previous day. This move outpaced the S&P 500's daily gain of 1.47%. On the other hand, the Dow registered a gain of 1.39%, and the technology-centric Nasdaq increased by 1.51%.
The company's shares have seen an increase of 17% over the last month, surpassing the Finance sector's loss of 0.97% and the S&P 500's loss of 0.47%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. The company's upcoming EPS is projected at $0.03, signifying a 76.92% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $197.07 million, up 76.27% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.99 per share and revenue of $817.49 million, indicating changes of +480.77% and +115.71%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
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 a 5.56% fall in the Zacks Consensus EPS estimate. CleanSpark is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, CleanSpark is at present trading with a Forward P/E ratio of 8.8. This valuation marks a discount compared to its industry's average Forward P/E of 9.97.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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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