In order to see if CLSK is a promising momentum pick, let's examine some Momentum Style elements to see if this company holds up. A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area. Momentum investing revolves around the idea of following a stock's r ...

Lesser-known high-potential tech stocks are a great way to invest in a growing stock market powered by Nvidia (NASDAQ:NVDA). The chip giant is a big reason why the three major stock indices ended the first quarter with five months of gains in a row. With three potential rate cuts, expect the fun to continue. After the market closed on Wednesday, the tech giant posted better-than-expected earnings for the fiscal first quarter, which sent the stock up by 7% to over $1,000, with the 10-for-1 stock split and th ...

Core Insights - The Russell 2000 index, which includes 2000 top American small-cap stocks, is essential for a comprehensive view of the US stock market [1] - Stanley Druckenmiller has taken a bullish position in IWM call options valued at $664 million, indicating confidence in small-cap growth [2] Company Summaries Super Micro Computer Inc (SMCI) - SMCI has seen a remarkable 211% return for shareholders in 2024, driven by demand for AI chips and infrastructure [4] - The stock trades at 4.3x sales and 24.5x forward earnings, with an average price target of $1,057.46, suggesting a near 20% upside [3][4] - The company has achieved a net income CAGR of 70% over five years and 126% over three years, indicating strong growth potential [4] CleanSpark (CLSK) - CleanSpark is positioned to benefit from the ongoing crypto bull run, with analysts projecting a price target range of $20.00 to $30.00, representing potential upsides of 25% to nearly 100% [8] - The company has made strides in sustainable mining, with 90% of its operations powered by carbon-free sources [9] - CLSK trades at 9.2x sales and 30.8x forward earnings, aligning with other Bitcoin miners, while Bitcoin's potential rise to $100,000 could enhance its attractiveness [9] Magnite (MGNI) - Magnite is currently undervalued, with price targets ranging from $13.00 to $20.00, indicating potential upsides of 10% to over 60% [11] - The company recently exceeded revenue estimates and formed an exclusive partnership with Netflix, expected to become its largest customer by 2025 [12] - MGNI trades at 2.5x sales and 11x forward earnings, with a strong revenue CAGR of 37%, presenting a buying opportunity before anticipated growth [13]

The cryptocurrency market suffered a severe blow in April after a strong rally in the previous 15 months. On Mar 14, the largest cryptocurrency, Bitcoin (BTC), recorded an all-time high of 73,750.07. However, it has fallen nearly 15% thereafter. Bitcoin gained more than 67% in first-quarter 2024 after jumping 157% in 2023. At present, Bitcoin is 9.3% below its all-time high. One of the major reasons for the decline in Bitcoin price was the halving event that took place last month. The Bitcoin halving event ...

Market Overview - Broad stock market indexes have reached new all-time highs, confirming the current bull market [1] - The S&P 500 experienced a ~6% pullback in April, which was seen as a typical correction before the strong recovery to new highs [1] Bitcoin and Correlation with Stocks - Bitcoin has been acting as a proxy for risk, showing a strong correlation with US equities, particularly technology stocks, with Bitcoin potentially gaining 3-5% for every 1% increase in stocks [3] - Bitcoin's price recently broke out from a bullish wedge/flag pattern, marking the third breakout since October [4] Coinbase Global (COIN) - Coinbase Global is the leading cryptocurrency brokerage in the US, benefiting from increased trading activity in Bitcoin and other cryptocurrencies [6] - Earnings estimates for Coinbase have significantly increased, with FY24 estimates rising from $1.57 to $7.18 per share, earning a Zacks Rank 1 (Strong Buy) [7] - The stock is forming a descending wedge pattern, with a breakout above $220 signaling potential new highs [8] Cleanspark (CLSK) - Cleanspark is a cryptocurrency miner showing strong performance compared to other miners like Marathon Digital and Riot Platforms, being the only one with positive returns year-to-date [12] - FY25 earnings estimates for Cleanspark have been revised from $0.04 to $1.86 per share, a remarkable increase of 4,550%, earning a Zacks Rank 2 (Buy) [13] - Cleanspark is also building a bullish technical pattern, with a breakout level at $17.70 [16] iShares Bitcoin Trust (IBIT) - The iShares Bitcoin Trust ETF offers direct exposure to Bitcoin with lower fees compared to Grayscale Bitcoin Trust ETF, making it an attractive option for investors [17] Investment Considerations - For investors seeking high-growth stocks and willing to accept volatility, Bitcoin and related stocks present a timely investment opportunity due to significant upgrades in brokerage and mining stocks, along with bullish chart setups [18]

The company is expected to earn $0.52 per share for the full year, which represents a change of +140.31% from the prior-year number. CleanSpark (CLSK) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, ...

Group 1 - CleanSpark (CLSK) closed at $15.55, with a 5.9% gain over the past four weeks, and a mean price target of $20.70 indicates a 33.1% upside potential [1] - The mean estimate consists of six short-term price targets with a standard deviation of $5.38, where the lowest estimate is $14.20 (8.7% decline) and the highest is $27 (73.6% increase) [2] - Analysts show strong agreement in revising earnings estimates higher, which correlates with potential upside in the stock [9][10] Group 2 - The Zacks Consensus Estimate for CLSK has increased by 70% due to one estimate moving higher in the last 30 days without any negative revisions [10] - CLSK holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [11] - While the consensus price target may not be a reliable indicator, the direction of price movement it implies appears to be a good guide for potential gains [11]

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about CleanSpark (CLSK) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. CleanSpark currently has an average brokerage recommendatio ...

Financial Data and Key Metrics Changes - The company reported revenue of $111.8 million for the second quarter, representing a 163% increase year-over-year and a 52% increase compared to the previous quarter [5][63] - Adjusted EBITDA for the second quarter was approximately $182 million, an improvement of 1.6 times over the preceding first quarter [13][63] - The company achieved a record net income of $126.7 million, or $0.59 earnings per share, compared to a net loss of $18.5 million, or a loss of $0.23 per share in the same quarter last year [8][63] Business Line Data and Key Metrics Changes - The total number of machines in operation increased from approximately 68,000 at the end of Q2 last year to about 134,000 at the end of Q2 this year, representing a significant increase in hashrate from 6.7 exahash to 16.7 exahash [6][8] - The average revenue per Bitcoin more than doubled year-over-year, increasing from approximately $23,000 to $55,000 [6][8] Market Data and Key Metrics Changes - The company noted that its mining economics remained healthy, with gross profit improving 21 points year-over-year and 8 points over the first quarter [7] - Wholesale power costs were as low as 1.3 cents per kilowatt hour, contributing to favorable all-in costs of 4.3 cents per kilowatt hour for wholly-owned locations [7] Company Strategy and Development Direction - The company is focused on growth through equity utilization, aiming to build long-term value and capitalize on the increasing adoption of Bitcoin [4] - The strategic approach emphasizes owning and operating facilities to maintain control over operations and costs, particularly in light of the recent Bitcoin halving [10][19] - The company plans to reach 50 exahash per second by 2025, with a target of 32 exahash per second coming online by the end of this year [45] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of operational efficiency and strategic positioning in navigating the challenges posed by the Bitcoin halving and market fluctuations [30][42] - The company anticipates significant consolidation in the Bitcoin mining industry, which will create opportunities for well-positioned miners like CleanSpark [42] Other Important Information - The company has a strong balance sheet with total liquidity of $681 million, including $323 million in cash and 5,021 Bitcoin valued at $358 million [18] - The company adopted fair value accounting for Bitcoin, recognizing a gain of almost $120 million in the second quarter [50] Q&A Session Summary Question: What are the expected construction and energization timelines for the newly acquired sites in Wyoming? - Management indicated that one site is partially ready and expects to complete the 45 megawatt site within 120 days, while the 30 megawatt site will take longer due to being a greenfield project [25][26] Question: How has the M&A landscape evolved since the halving? - Management noted an increase in opportunities as less efficient miners struggle, and they are open to various sizes of acquisitions, leveraging their access to capital [28][29] Question: Can you provide details on the relationship with the utility in Wyoming? - The company highlighted strong political support for Bitcoin in Wyoming and access to low-cost power, which were key factors in choosing the site for expansion [88]

UNITED STATES FORM 10-Q TABLE OF CONTENTS Item 4: Controls and Procedures 19 Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share CLSK The Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suc ...