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CleanSpark (CLSK) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, CleanSpark (CLSK - Free Report) closed at $19.23, marking a -1.59% move from the previous day. This change lagged the S&P 500's daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
Shares of the company have depreciated by 7.87% over the course of the past month, underperforming the Finance sector's loss of 5.37% and the S&P 500's loss of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company's earnings report is set to go public on May 9, 2024. The company is predicted to post an EPS of $0.06, indicating a 126.09% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $103.76 million, indicating a 143.85% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.14 per share and a revenue of $438.66 million, demonstrating changes of +89.15% and +171.77%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, CleanSpark holds a Zacks Rank of #2 (Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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CleanSpark (CLSK) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, CleanSpark (CLSK - Free Report) closed at $19.23, marking a -1.59% move from the previous day. This change lagged the S&P 500's daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.4%, while the tech-heavy Nasdaq appreciated by 2.03%.
Shares of the company have depreciated by 7.87% over the course of the past month, underperforming the Finance sector's loss of 5.37% and the S&P 500's loss of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of CleanSpark in its upcoming earnings disclosure. The company's earnings report is set to go public on May 9, 2024. The company is predicted to post an EPS of $0.06, indicating a 126.09% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $103.76 million, indicating a 143.85% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.14 per share and a revenue of $438.66 million, demonstrating changes of +89.15% and +171.77%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, CleanSpark holds a Zacks Rank of #2 (Buy).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.