CleanSpark (CLSK) Outperforms Broader Market: What You Need to Know

In the latest close session, CleanSpark (CLSK) was up +1.98% at $10.81. The stock exceeded the S&P 500, which registered a gain of 0.8% for the day. At the same time, the Dow added 0.94%, and the tech-heavy Nasdaq gained 0.97%.

Coming into today, shares of the company had gained 16.36% in the past month. In that same time, the Finance sector gained 2.69%, while the S&P 500 gained 5.12%.

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Market participants will be closely following the financial results of CleanSpark in its upcoming release. The company is predicted to post an EPS of -$0.03, indicating a 400% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $195.29 million, indicating a 87.58% increase compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.62 per share and a revenue of $777.01 million, indicating changes of +338.46% and +105.03%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 100% lower. CleanSpark is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, CleanSpark is currently being traded at a Forward P/E ratio of 17.1. This expresses a premium compared to the average Forward P/E of 11.65 of its industry.

The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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, Inc. (CLSK) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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