In the latest close session, CleanSpark (CLSK) was down 1.84% at $12.25. This move lagged the S&P 500's daily gain of 0.83%. Elsewhere, the Dow gained 0.77%, while the tech-heavy Nasdaq added 1.02%.
Prior to today's trading, shares of the company had gained 30.95% outpaced the Finance sector's gain of 3.44% and the S&P 500's gain of 4.99%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. In that report, analysts expect CleanSpark to post earnings of -$0.02 per share. This would mark a year-over-year decline of 300%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $188.79 million, up 81.34% from the year-ago period.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of $0.64 per share and revenue of $758.76 million. These results would represent year-over-year changes of +346.15% and +100.22%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 113.33% lower. As of now, CleanSpark holds a Zacks Rank of #3 (Hold).
In terms of valuation, CleanSpark is currently trading at a Forward P/E ratio of 19.42. For comparison, its industry has an average Forward P/E of 12.15, which means CleanSpark is trading at a premium to the group.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 151, placing it within the bottom 39% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Cleanspark, Inc. (CLSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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