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Here's Why CleanSpark (CLSK) Fell More Than Broader Market
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In the latest trading session, CleanSpark (CLSK - Free Report) closed at $10.63, marking a -7.73% move from the previous day. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw a decrease of 1.25%.
Shares of the company have depreciated by 13.25% over the course of the past month, underperforming the Finance sector's loss of 5.13%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.36, indicating a 3500% decline compared to the equivalent 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.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of -$4.14 per share and revenue of $584.2 million. These results would represent year-over-year changes of -683.1% and -23.77%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.14% lower. Currently, CleanSpark is carrying a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 174, placing it within the bottom 30% of over 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Here's Why CleanSpark (CLSK) Fell More Than Broader Market
In the latest trading session, CleanSpark (CLSK - Free Report) closed at $10.63, marking a -7.73% move from the previous day. This change lagged the S&P 500's daily loss of 0.47%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw a decrease of 1.25%.
Shares of the company have depreciated by 13.25% over the course of the past month, underperforming the Finance sector's loss of 5.13%, and the S&P 500's gain of 1.15%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.36, indicating a 3500% decline compared to the equivalent 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.
CLSK's full-year Zacks Consensus Estimates are calling for earnings of -$4.14 per share and revenue of $584.2 million. These results would represent year-over-year changes of -683.1% and -23.77%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 57.14% lower. Currently, CleanSpark is carrying a Zacks Rank of #4 (Sell).
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 174, placing it within the bottom 30% of over 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.