CleanSpark (CLSK) Sees a More Significant Dip Than Broader Market: Some Facts to Know

CleanSpark (CLSK) ended the recent trading session at $12.78, demonstrating a -1.54% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.01%. At the same time, the Dow lost 0.32%, and the tech-heavy Nasdaq gained 0.05%.

The company's stock has climbed by 41.39% in the past month, exceeding the Finance sector's gain of 4.74% and the S&P 500's gain of 5.37%.

The upcoming earnings release of CleanSpark will be of great interest to investors. The company is predicted to post an EPS of $0, indicating a 100% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $196.39 million, indicating a 88.64% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.62 per share and a revenue of $764.01 million, indicating changes of +338.46% and +101.6%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for CleanSpark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection has moved 53.33% higher. Right now, CleanSpark possesses a Zacks Rank of #4 (Sell).

Looking at valuation, CleanSpark is presently trading at a Forward P/E ratio of 20.85. Its industry sports an average Forward P/E of 12.66, so one might conclude that CleanSpark is trading at a premium comparatively.

The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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 Report

This article originally published on Zacks Investment Research (zacks.com).

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