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CleanSpark (CLSK) Surges 8.8%: Is This an Indication of Further Gains?
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CleanSpark (CLSK - Free Report) shares rallied 8.8% in the last trading session to close at $13.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.9% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the company’s 20-year, $6.6 billion lease for its Sandersville, Georgia data center, which adds predictable, high-margin revenue and reduces dependence on volatile Bitcoin-mining economics.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of -137.2%. Revenues are expected to be $158.26 million, down 20.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For CleanSpark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLSK going forward to see if this recent jump can turn into more strength down the road.
CleanSpark is part of the Zacks Financial - Miscellaneous Services industry. Oaktree Specialty Lending (OCSL - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $12.15. OCSL has returned 2.6% in the past month.
Oaktree Specialty Lending's consensus EPS estimate for the upcoming report has changed -1% over the past month to $0.36. Compared to the company's year-ago EPS, this represents a change of -2.7%. Oaktree Specialty Lending currently boasts a Zacks Rank of #4 (Sell).
View the Zacks #1 Rank List
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CleanSpark (CLSK) Surges 8.8%: Is This an Indication of Further Gains?
CleanSpark (CLSK - Free Report) shares rallied 8.8% in the last trading session to close at $13.45. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 27.9% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the company’s 20-year, $6.6 billion lease for its Sandersville, Georgia data center, which adds predictable, high-margin revenue and reduces dependence on volatile Bitcoin-mining economics.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of -137.2%. Revenues are expected to be $158.26 million, down 20.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For CleanSpark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CLSK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CleanSpark is part of the Zacks Financial - Miscellaneous Services industry. Oaktree Specialty Lending (OCSL - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $12.15. OCSL has returned 2.6% in the past month.
Oaktree Specialty Lending's consensus EPS estimate for the upcoming report has changed -1% over the past month to $0.36. Compared to the company's year-ago EPS, this represents a change of -2.7%. Oaktree Specialty Lending currently boasts a Zacks Rank of #4 (Sell).