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CleanSpark (CLSK) Laps the Stock Market: Here's Why
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CleanSpark (CLSK - Free Report) closed the most recent trading day at $16.48, moving +1.92% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.5%. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.
The stock of company has risen by 15.66% in the past month, leading the Finance sector's gain of 1.89% and the S&P 500's loss of 0.23%.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.29, marking a 137.18% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $158.26 million, down 20.33% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.2 per share and revenue of $642.95 million, indicating changes of -550.7% and -16.1%, respectively, compared to the previous 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 business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 13.29% downward. CleanSpark presently features a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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CleanSpark (CLSK) Laps the Stock Market: Here's Why
CleanSpark (CLSK - Free Report) closed the most recent trading day at $16.48, moving +1.92% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.5%. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.31%.
The stock of company has risen by 15.66% in the past month, leading the Finance sector's gain of 1.89% and the S&P 500's loss of 0.23%.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.29, marking a 137.18% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $158.26 million, down 20.33% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.2 per share and revenue of $642.95 million, indicating changes of -550.7% and -16.1%, respectively, compared to the previous 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 business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 13.29% downward. CleanSpark presently features a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 143, positioning it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.