The latest trading session saw CleanSpark (CLSK – Free Report) ending at $8.12, denoting a +1.88% adjustment from its last day’s close. The stock exceeded the S&P 500, which registered a gain of 0.64% for the day. On the other hand, the Dow registered a gain of 0.85%, and the technology-centric Nasdaq increased by 0.31%.
The company’s shares have seen a decrease of 24.1% over the last month, not keeping up with the Finance sector’s loss of 4.63% and the S&P 500’s loss of 7.69%.
The upcoming earnings release of CleanSpark will be of great interest to investors. The company’s earnings per share (EPS) are projected to be $0.13, reflecting no change from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $229.66 million, up 105.42% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.58 per share and a revenue of $899.96 million, indicating changes of +323.08% and +137.48%, respectively, from the former year.
Any recent changes to analyst estimates for CleanSpark should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, CleanSpark possesses a Zacks Rank of #3 (Hold).
Looking at valuation, CleanSpark is presently trading at a Forward P/E ratio of 13.74. This valuation marks a premium compared to its industry’s average Forward P/E of 9.27.
The Financial – Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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