Yahoo Finance CleanSpark (CLSK) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with CleanSpark (CLSK) standing at $16.05, reflecting a -0.19% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Meanwhile, the Dow experienced a rise of 0.09%, and the technology-dominated Nasdaq saw an increase of 0.3%.
The company's stock has dropped by 5.8% in the past month, falling short of the Finance sector's loss of 0.57% and the S&P 500's gain of 3.38%.
Market participants will be closely following the financial results of CleanSpark in its upcoming release. On that day, CleanSpark is projected to report earnings of $0.04 per share, which would represent year-over-year growth of 133.33%. Meanwhile, the latest consensus estimate predicts the revenue to be $114.04 million, indicating a 150.53% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.52 per share and a revenue of $401.46 million, indicating changes of +140.31% and +148.72%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for CleanSpark. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, CleanSpark is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, CleanSpark is currently being traded at a Forward P/E ratio of 30.92. This valuation marks a premium compared to its industry's average Forward P/E of 10.91.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 152, putting it in the bottom 40% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Cleanspark, Inc. (CLSK) : Free Stock Analysis Report
