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CleanSpark Inc (NASDAQ:CLSK) shares are trading lower Tuesday morning as investors position themselves ahead of the company's fiscal fourth-quarter earnings report, scheduled for release after the closing bell. Here’s what investors need to know.
What To Know: Wall Street analysts expect the Bitcoin (CRYPTO: BTC) miner to report EPS of 12 cents and quarterly revenue of $246.9 million.
Tuesday's pullback follows a surge on Monday, driven by a bullish upgrade from JPMorgan. The bank raised CleanSpark's rating from Neutral to Overweight, reiterating a $14 price target. The upgrade reflects growing optimism regarding CleanSpark's pivot toward high-performance computing.
JPMorgan analysts highlighted the company's newly acquired Texas facility, estimating that its 200 megawatts of critical IT capacity could command a premium valuation as the company transitions into a data-center operator.
While the stock cools off from Monday's rally, all eyes remain on the upcoming print. Investors will be listening closely to the 4:30 PM ET conference call for updates on how quickly CleanSpark can operationalize its high-performance computing infrastructure.
Benzinga Edge Rankings: Data from Benzinga Edge highlights the company's aggressive expansion with a near-perfect Growth score of 99.73.
CLSK Price Action: CLSK Price Action: Cleanspark shares were down 5.75% at $10.82 at the time of publication on Tuesday, according to Benzinga Pro data.
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in CleanSpark’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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