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CleanSpark (CLSK) Declines More Than Market: Some Information for Investors
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The latest trading session saw CleanSpark (CLSK - Free Report) ending at $11.72, denoting a -1.01% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.02% for the day. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.
Heading into today, shares of the company had gained 33.94% over the past month, outpacing the Finance sector's loss of 3.12% and the S&P 500's gain of 3.77% in that time.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure.
It's also important for investors to be aware of any recent modifications to analyst estimates for CleanSpark. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CleanSpark is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 98.67 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.88.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 41% 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.
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CleanSpark (CLSK) Declines More Than Market: Some Information for Investors
The latest trading session saw CleanSpark (CLSK - Free Report) ending at $11.72, denoting a -1.01% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.02% for the day. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%.
Heading into today, shares of the company had gained 33.94% over the past month, outpacing the Finance sector's loss of 3.12% and the S&P 500's gain of 3.77% in that time.
Investors will be eagerly watching for the performance of CleanSpark in its upcoming earnings disclosure.
It's also important for investors to be aware of any recent modifications to analyst estimates for CleanSpark. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CleanSpark is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that CleanSpark has a Forward P/E ratio of 98.67 right now. This valuation marks a premium compared to its industry's average Forward P/E of 11.88.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 149, positioning it in the bottom 41% 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.
To follow CLSK in the coming trading sessions, be sure to utilize Zacks.com.