![]() It's clear from the latest estimates that CleanSpark's rate of growth is expected to accelerate meaningfully, with the forecast 4x annualised revenue growth to the end of 2022 noticeably faster than its historical growth of 77% p.a. Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. The analysts also cut CleanSpark's price target 11% to US$42.50, implying that lower forecast earnings are expected to have a more negative impact than can be offset by the increase in sales. Although there was a a sizeable to revenue, the consensus also made a minor downgrade to its earnings per share forecasts. Overall it looks as though the analysts were a bit mixed on the latest results. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$191.5m and earnings per share (EPS) of US$2.50 in 2022. CleanSpark is also expected to turn profitable, with statutory earnings of US$2.44 per share. Taking into account the latest results, the consensus forecast from CleanSpark's two analysts is for revenues of US$198.4m in 2022, which would reflect a sizeable 718% improvement in sales compared to the last 12 months. View our latest analysis for CleanSpark NasdaqCM:CLSK Earnings and Revenue Growth August 19th 2021 We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. Statutory earnings correspondingly nosedived, with CleanSpark reporting a loss of US$0.49 per share, where the analysts were expecting a profit. It was a pretty bad result overall, with revenues coming in 22% lower than the analysts predicted. ( NASDAQ:CLSK), who've watched their investment drop 20% to US$11.93 in the week since the company reported its third-quarter result. "In addition to these orders, we will continue to ource miners on a periodic basis to further increase or upgrade our total mining capacity." CleanSpark's stock has dropped 22.5% year to date, while bitcoin has soared 117.It's been a sad week for CleanSpark, Inc. "Time is money in this industry, and we wanted to ensure that we have both our immediate needs covered but we also wanted to look to the future to ensure we had a reliable baseline supply of future miner deliveries secured to support our long-term growth," said CleanSpark Chief Executive Zach Bradford. The company added that it has secured contracts on all the equipment needed to reach its target of a total has rate capacity of more than 1.1 EH/s by the summer of 2021. CleanSpark said the additional orders included 15,480 S19j Pro and S19Pro Antminers contracted from "a premier cryptocurrency mining equipment dealer" and 7,200 Sj19 Pro Antimers contracted directly from Bitmain Technologies Ltd. The stock's rally comes as bitcoin rose 0.4%, to trade just shy of Tuesday's record close of $63,434.45, according to FactSet data. ![]() Surged 5.6% in morning trading Thursday, after the energy software and bitcoin mining company said it has bought 22,680 additional bitcoin miners, which the company expects will provide it with a total of mining production capacity of over 3.2 EH/s.
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