CleanSpark (CLSK) Beats Stock Market Upswing: What Investors Need to Know

The latest trading session saw CleanSpark (CLSK) ending at $11.14, denoting a +1.64% adjustment from its last day's close. The stock's change was more than the S&P 500's daily gain of 0.61%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.28%.The company's stock has climbed by 2.81% in the past month, falling short of the Finance sector's gain of 4.36% and outpacing the S&P 500's gain of 2.08%.The investment community will be paying close attention to the earnings performance of CleanSpark in its upcoming release. In that report, analysts expect CleanSpark to post earnings of -$0.09 per share. This would mark a year-over-year decline of 350%. Simultaneously, our latest consensus estimate expects the revenue to be $151.88 million, showing a 105.82% escalation compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.18 per share and a revenue of $788.8 million, indicating changes of +169.23% and +108.14%, respectively, from the former year.Investors should also take note of any recent adjustments to analyst estimates for CleanSpark. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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, there's been no change in the Zacks Consensus EPS estimate. CleanSpark is currently a Zacks Rank #3 (Hold).In terms of valuation, CleanSpark is presently being traded at a Forward P/E ratio of 60.89. This expresses a premium compared to the average Forward P/E of 10.47 of its industry.The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleanspark, Inc. (CLSK): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks