CleanSpark (CLSK) Dips More Than Broader Market: What You Should Know

CleanSpark (CLSK) closed the most recent trading day at $12.65, moving -1.94% from the previous trading session. The stock trailed the S&P 500, which registered a daily loss of 0.33%. Elsewhere, the Dow lost 0.63%, while the tech-heavy Nasdaq lost 0.22%. Coming into today, shares of the company had gained 32.85% in the past month. In that same time, the Finance sector gained 3.2%, while the S&P 500 gained 4.07%. Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. 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. For the full year, the Zacks Consensus Estimates are projecting earnings of $0.62 per share and revenue of $764.01 million, which would represent changes of +338.46% and +101.6%, respectively, from the prior year. It is also important to note the recent changes to analyst estimates for CleanSpark. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate has shifted 6.67% upward. CleanSpark presently features a Zacks Rank of #4 (Sell). In terms of valuation, CleanSpark is currently trading at a Forward P/E ratio of 20.72. This valuation marks a premium compared to its industry average Forward P/E of 12.01. The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 144, finds itself in the bottom 42% echelons of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Should You Invest in Cleanspark, Inc. (CLSK)?Before you invest in Cleanspark, Inc. (CLSK), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleanspark, Inc. (CLSK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks