In the latest trading session, CleanSpark (CLSK) closed at $10.09, marking no change from the previous day.
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?
CleanSpark, a major Bitcoin miner, has seen a flat share price over the past year despite a ~2x jump in Bitcoin prices. The company is trading close to book value (assuming current Bitcoin prices hold), and has massive earnings power for FY25. With a cost of ~$36,250 per coin mined, CleanSpark effectively has a 60%+ gross margin, assuming Bitcoin prices hold around ~$100k.
CleanSpark mined 7,024 BTC in 2024, maintaining a pure play on Bitcoin while competitors diversify into high-performance computing. The company used convertible note proceeds for share repurchases and covered calls, avoiding the trend of buying more Bitcoin with borrowed money. Despite strong sats/share growth, CleanSpark's stock performance lags Bitcoin's price, making it a better trading vehicle than a long-term investment.
As cryptocurrency regulation is expected to ease under the incoming Trump administration, Clear Street senior research analyst Brian Dobson joins Market Domination to analyze crypto mining prospects for 2025. "Not all miners are created equal," Dobson tells Yahoo Finance.
CleanSpark (CLSK) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
CleanSpark ( CLSK ) is a $4 billion technology enterprise that call's itself "America's Bitcoin Miner." I ran a year-to-date look at CLSK shares vs some other prominent miners.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
JPMorgan doesn't often issue upgrades to two bitcoin miners at once, but that's exactly what happened on Tuesday with CleanSpark Inc CLSK and Cipher Mining Inc CIFR.
CleanSpark Inc CLSK shares were down on Tuesday, even after the company reported upbeat fourth-quarter results.
CleanSpark stock is up 68% since October, showing strong potential despite a 6% pre-market drop after Q4 results, maintaining a bullish outlook. CLSK stock valuation remains attractive, with significant capacity growth and a substantial Bitcoin treasury, suggesting further upside potential if Bitcoin prices rise. CleanSpark's high short interest (19%) could lead to volatility but also offers potential for swift stock movement upon an upside breakout.
The stock market had been running behind the massive rally in shares of MicroStrategy Inc. NASDAQ: MSTR, especially as it had become common knowledge that the company's Bitcoin holdings would bring its valuation to new highs when and if the cryptocurrency markets rallied higher. However, that euphoria was soon met with a new reality.