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Why CleanSpark (CLSK) Dipped More Than Broader Market Today
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CleanSpark (CLSK - Free Report) closed the most recent trading day at $12.88, moving -3.23% from the previous trading session. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq gained 0.24%.
Shares of the company have appreciated by 20.34% over the course of the past month, outperforming the Finance sector's loss of 4.43%, and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of CleanSpark in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.37, reflecting a 3600% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $132.07 million, indicating a 40.95% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.97 per share and revenue of $590.32 million, indicating changes of -659.15% and -22.97%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, CleanSpark possesses a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 42% 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Why CleanSpark (CLSK) Dipped More Than Broader Market Today
CleanSpark (CLSK - Free Report) closed the most recent trading day at $12.88, moving -3.23% from the previous trading session. This change lagged the S&P 500's 0.25% loss on the day. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq gained 0.24%.
Shares of the company have appreciated by 20.34% over the course of the past month, outperforming the Finance sector's loss of 4.43%, and the S&P 500's loss of 0.42%.
Market participants will be closely following the financial results of CleanSpark in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.37, reflecting a 3600% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $132.07 million, indicating a 40.95% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$3.97 per share and revenue of $590.32 million, indicating changes of -659.15% and -22.97%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for CleanSpark. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, CleanSpark possesses a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 42% 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.