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CleanSpark (CLSK) Suffers a Larger Drop Than the General Market: Key Insights
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CleanSpark (CLSK - Free Report) ended the recent trading session at $19.54, demonstrating a -1.21% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
The company's stock has dropped by 14.41% in the past month, falling short of the Finance sector's loss of 5.08% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. The company's upcoming EPS is projected at $0.06, signifying a 126.09% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $103.76 million, up 143.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.14 per share and revenue of $438.66 million, which would represent changes of +89.15% and +171.77%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained steady. CleanSpark presently features a Zacks Rank of #2 (Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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CleanSpark (CLSK) Suffers a Larger Drop Than the General Market: Key Insights
CleanSpark (CLSK - Free Report) ended the recent trading session at $19.54, demonstrating a -1.21% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.46%. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 0.64%.
The company's stock has dropped by 14.41% in the past month, falling short of the Finance sector's loss of 5.08% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 9, 2024. The company's upcoming EPS is projected at $0.06, signifying a 126.09% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $103.76 million, up 143.85% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.14 per share and revenue of $438.66 million, which would represent changes of +89.15% and +171.77%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for CleanSpark. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained steady. CleanSpark presently features a Zacks Rank of #2 (Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 89, finds itself in the top 36% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.