CleanSpark Inc. (CLSK) Shares: Are They Risky Or Cheap?

CleanSpark Inc. (NASDAQ:CLSK) finished Wednesday with an addition of $0.83 to close at $15.17, an upside of 5.79 percent. An average of 1,875,400 shares of common stock have been traded in the last five days. There was a gain of $1.72 in the past week. The last 20 days have seen an average of 1,638,460 shares traded, while the 50-day average volume stands at 1,714,318.

CLSK stock has increased by 22.93% in the last month. The company shares reached their 1-month lowest point of $10.90 on 09/28/21. With the stock rallying to its 52-week high on 01/08/21, shares of the company touched a low of $6.92 and a high of $42.60 in 52 weeks. In spite of this, the price is down -64.39% from the 52-week high.

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Insider Transactions

107 days have passed since CleanSpark Inc. (CLSK) last reported insider trading activity. McNeill Larry, who is Director, most recently acquired $4,000 shares at $17.31 per share on Jun 29. In this transaction, the insider spent $69,240. Director, McNeill Larry, disposed of 5,000 shares at a price of $19.81 on Jun 17. The insider now owns more than $99,050 worth of shares. Prior to that, Director McNeill Larry went on to Sale 6,000 shares at $19.09 each on Jun 16. An amount of $114,540 was transacted.

Valuation Metrics

CleanSpark Inc. (CLSK) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 37.24 for the sector. The stock’s beta is 3.67. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 22.07, the price-to-book (PB) ratio at 1.83.

The quick ratio of CleanSpark Inc. for the three months ended June 29 was 4.00, and the current ratio was 4.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 67.40% against a 5-year average of 32.8%. CleanSpark Inc.’s EBITDA margin for the year ending June 29 is -122.27%. Its gross profit as reported stood at $2.12 million compared to revenue of $10.03 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, CleanSpark Inc.’s return on assets was -13.70%, compared to -108.0% over the last five years. In the past year, the return on investment has been -89.60%, and the 5-year average is -92.3%. Meanwhile, the return on equity (ROE) for the past 12 months has been -14.50% and the 5-year average holds at -121.2%. For the broader industry, ROE averaged 3.34 over the past year.

Earnings Surprise

For the three-month period that ended June 29, CleanSpark Inc. had $125.86 million in cash. The analyst consensus anticipated CleanSpark Inc.’s latest quarter earnings to come in at $0.07 per share, but it turned out to be -$0.49, a -800.00% surprise. For the quarter, EBITDA amounted to -$10.86 million. Shareholders own equity worth $35.59 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at CleanSpark Inc. (CLSK) price momentum. RSI 9-day as of the close on 13 October was 74.42%, suggesting the stock is Overbought, with historical volatility in this time frame at 54.62%.

As of today, CLSK’s price is $14.43 +12.79% or $1.72 from its 5-day moving average. CLSK is currently trading +19.35% higher than its 20-day SMA and -0.98% lower than its 100-day SMA. However, the stock’s current price level is +14.66% above the SMA50 and -47.51% below the SMA200.

The stochastic %K and %D were 85.52% and 86.15%, respectively, and the average true range (ATR) was 1.05. With the 14-day stochastic at 96.61% and the average true range at 1.02, the RSI (14) stands at 66.21%. The stock has reached 0.93 on the 9-day MACD Oscillator while the 14-day reading was at 1.76.

Analyst Ratings

BTIG Research launched coverage on CleanSpark Inc. (NASDAQ: CLSK) in its analyst report released on March 11, 2021. The firm assigned the stock a a Buy rating.The consensus rating for CleanSpark Inc. (CLSK) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CLSK, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is CLSK’s price target for the next 12 months?

Analysts predict a range of price targets between $35.00 and $50.00, with a median target of $42.50. Taking a look at these predictions, the average price target given by analysts for CleanSpark Inc. (CLSK) stock is $42.50.


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