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CleanSpark (CLSK) Stock Slides as Market Rises: Facts to Know Before You Trade
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CleanSpark (CLSK - Free Report) ended the recent trading session at $12.73, demonstrating a -4.57% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.26%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.25%.
Coming into today, shares of the company had gained 16.2% in the past month. In that same time, the Finance sector gained 0.62%, while the S&P 500 gained 1.57%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. On that day, CleanSpark is projected to report earnings of -$0.1 per share, which would represent a year-over-year decline of 42.86%. Meanwhile, our latest consensus estimate is calling for revenue of $186.66 million, up 15% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.07 per share and a revenue of $803.77 million, signifying shifts of -90.14% and +4.89%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for CleanSpark. These revisions help to show the ever-changing nature of near-term business trends. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 72.66% lower. At present, CleanSpark boasts a Zacks Rank of #4 (Sell).
In terms of valuation, CleanSpark is currently trading at a Forward P/E ratio of 190.57. This valuation marks a premium compared to its industry average Forward P/E of 11.77.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% 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.
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 (CLSK) Stock Slides as Market Rises: Facts to Know Before You Trade
CleanSpark (CLSK - Free Report) ended the recent trading session at $12.73, demonstrating a -4.57% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.26%. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq gained 0.25%.
Coming into today, shares of the company had gained 16.2% in the past month. In that same time, the Finance sector gained 0.62%, while the S&P 500 gained 1.57%.
The investment community will be closely monitoring the performance of CleanSpark in its forthcoming earnings report. On that day, CleanSpark is projected to report earnings of -$0.1 per share, which would represent a year-over-year decline of 42.86%. Meanwhile, our latest consensus estimate is calling for revenue of $186.66 million, up 15% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.07 per share and a revenue of $803.77 million, signifying shifts of -90.14% and +4.89%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for CleanSpark. These revisions help to show the ever-changing nature of near-term business trends. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 72.66% lower. At present, CleanSpark boasts a Zacks Rank of #4 (Sell).
In terms of valuation, CleanSpark is currently trading at a Forward P/E ratio of 190.57. This valuation marks a premium compared to its industry average Forward P/E of 11.77.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 171, finds itself in the bottom 31% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.