CleanSpark (CLSK) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest trading session, CleanSpark (CLSK) closed at $14.96, marking a -1.45% move from the previous day. This change lagged the S&P 500's daily loss of 0.88%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 1.95%.
Prior to today's trading, shares of the company had lost 12% over the past month. This has lagged the Finance sector's loss of 4.28% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of CleanSpark in its upcoming release. The company is forecasted to report an EPS of $0.04, showcasing a 133.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $114.04 million, up 150.53% from the year-ago period.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $401.46 million. These results would represent year-over-year changes of +140.31% and +148.72%, respectively.
It is also important to note the recent changes to analyst estimates for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. CleanSpark currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 29.19 right now. For comparison, its industry has an average Forward P/E of 11.31, which means CleanSpark is trading at a premium to the group.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 101, finds itself in the top 41% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Cleanspark, Inc. (CLSK) : Free Stock Analysis Report