Does CleanSpark Inc. (CLSK) Have A Cheap Price Or Is It Risky?

The stock of CleanSpark Inc. (NASDAQ:CLSK) decreased by decreased by -$1.2 on Friday to finish at $16.44, down -6.80 percent. The last five days have seen an average of 2,246,380 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$12.61. The average number of shares traded over the last 20 days was 2,007,340, while the average volume over the last 50 days totaled 1,802,970.

CLSK stock appreciated 38.62% since last month. On 09/28/21, the company’s shares reached a one-month low of $10.90. The stock touched a high of $42.60 on 01/08/21, after rallying from a low of $6.92 in 52 weeks. The price of CLSK stock has declined by -43.41% or -$12.61 this year, reaching a new high 4 times. Still, the stock price is down -61.41% from the 52-week high.

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Insider Transactions

There have been 115 days since CleanSpark Inc. (CLSK) last reported insider trading activity on Jul 02. On Jul 02, CEO and President Bradford Zachary acquired 83,333 shares at $0.20 each. This transaction resulted in the insider spending $16,667. On Jul 02, Schultz S. Matthew added 83,333 shares at a price of US$0.20. After the transaction, the insider now owns 83,333 shares. Director McNeill Larry had earlier bought 83,333 shares on Jul 02 for $0.20 a share. The transaction was completed for $16,667.

Valuation Metrics

Beta for the stock is 3.78. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 26.60, the price-to-book (PB) ratio of 1.99.

For the three months ended June 29, CleanSpark Inc.’s quick ratio was 4.00, while its current ratio was 4.40, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 67.40% percent. Based on annual data, it had gross profit of $2.12 million and revenue of $10.03 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CLSK’s return on assets (ROA) during the last 12 months has been -13.70%. There was a -89.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -14.50%. ROE has averaged 3.34 in the past year for the broader industry.

Earnings Surprise

According to CleanSpark Inc.’s quarterly financial report for the quarter that ended June 29, it had $125.86 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $11.92 million, while revenues rose by 71.14% to $8.12 million. It was predicted that CleanSpark Inc.’s quarterly earnings would be -$0.49, but it ended up being $0.07. EBITDA was -$10.86 million for the quarter. At the end of CleanSpark Inc.’s most recent quarter ended June 29, its liabilities totaled 15.69 million, while its total debt was $1.43 million. Equity owned by shareholders amounts to $35.59 million.

Technical Picture

Here’s a quick look at CleanSpark Inc.’s (CLSK) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 64.55%, suggesting the stock is Neutral, with a 58.62% historical volatility rate.

The stochastic %K and %D were 78.74% and 86.08% respectively, while the average true range (ATR) was 1.14. Based on the 14-day stochastic reading of 65.35%, the RSI (14) reading is 64.16%. On the 9-day MACD Oscillator, the stock is at 1.11, and the 14-day reading is at 1.91.

Analyst Ratings

In its analyst report released on March 11, 2021, BTIG Research began covering CleanSpark Inc. (NASDAQ: CLSK). The stock was rated as a Buy by the brokerage firm. Analysts have assigned CleanSpark Inc. (CLSK) an Buy rating. CLSK is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 2 others recommend it as a buy.

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

The current consensus forecast for the stock is between $35.00 and $50.00, with a median target price of $42.50. In analyzing these forecasts, the average price target given by analysts for CleanSpark Inc. (CLSK) is $42.50.


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