CleanSpark (CLSK) ended the recent trading session at $8.86, demonstrating a -1.56% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.96%. Elsewhere, the Dow gained 0.89%, while the tech-heavy Nasdaq added 0.94%.
The stock of company has fallen by 3.85% in the past month, lagging the Finance sector's loss of 1.18% and the S&P 500's gain of 0.5%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.03, showcasing a 400% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $195.29 million, up 87.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.62 per share and a revenue of $777.01 million, indicating changes of +338.46% and +105.03%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for CleanSpark. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate has moved 100% lower within the past month. At present, CleanSpark boasts a Zacks Rank of #3 (Hold).
In the context of valuation, CleanSpark is at present trading with a Forward P/E ratio of 14.52. Its industry sports an average Forward P/E of 11.14, so one might conclude that CleanSpark is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 42% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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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