A Look At Insider Reactions To CleanSpark Inc. (CLSK)

As of Friday close, CleanSpark Inc.’s (NASDAQ:CLSK) stock was up $1.18, moving up 22.96 percent to $6.32. The average number of shares traded per day over the past five days has been 2,902,200 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.22 fall in that time frame. In the last twenty days, the average volume was 2,129,170, while in the previous 50 days, it was 1,959,934.

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Since last month, CLSK stock retreated -37.61%. Shares of the company fell to $4.53 on 05/12/22, the lowest level in the past month. A 52-week high of $23.60 was reached on 03/28/22 after having rallying from a 52-week low of $4.53. Since the beginning of this year, CLSK’s stock price has dropped by -33.61% or -$3.20, and marked a new high 11 times. However, the stock has declined by -73.22% since its 52-week high.

CleanSpark Inc. (CLSK) last reported insider trading activity 86 days ago on Feb 17. Vecchiarelli Gary Anthony, the Chief Financial Officer of the company, purchased of 4,400 shares for $10.25 on Feb 17. It resulted in a $45,100 investment by the insider. Vecchiarelli Gary Anthony added 3,357 shares at an average price of $11.18 on Feb 16. The insider now owns 73,357 shares following the transaction. On Feb 14, Director Wood Thomas Leigh bought 15,000 shares at $8.70 apiece. The transaction was valued at $130,500.

Valuation Metrics

The stock’s beta is 3.70. Besides these, the trailing price-to-sales (P/S) ratio of 3.13, the price-to-book (PB) ratio of 0.65.

Financial Health

In the three months ended September 29, CleanSpark Inc.’s quick ratio stood at 2.50, while its current ratio was 2.60, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 75.80% percent. In the year ended September 29, operating margins totaled -20.50%. Based on annual data, CLSK earned $35.47 million in gross profit and brought in $49.44 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -9.30%. Return on equity (ROE) for the past 12 months was -0.20%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CLSK’s revenue rose 80.5% to $41.24 million during the quarter, while net income inched up to $41.64 million. While analysts expected CleanSpark Inc. to report $0.07 quarterly earnings, the actual figure was -$0.15 per share, beating the consensus estimate by -314.30%. During the quarter, the company generated $24.95 million in EBITDA. The liabilities of CleanSpark Inc. were 23.88 million at the end of its most recent quarter ended September 29, and its total debt was $2.36 million. The value of shareholders’ equity is $41.29 million.

Technical Picture

This quick technical analysis looks at CleanSpark Inc.’s (CLSK) price momentum. With a historical volatility rate of 173.19%, the RSI 9-day stood at 43.40% on 13 May.

With respect to its five-day moving average, the current CleanSpark Inc. price is down by -3.36% percent or -$0.22. At present, CLSK shares trade -34.24% below its 20-day simple moving average and -41.59% percent below its 100-day simple moving average. However, the stock is currently trading approximately -37.30% below its SMA50 and -53.80% below its SMA200.

Stochastic coefficient K was 24.70% and Stochastic coefficient D was 12.83%, while ATR was 0.90. Given the Stochastic reading of 53.75% for the 14-day period, the RSI (14) reading has been calculated as 39.94%. As of today, the MACD Oscillator reading stands at -0.72, while the 14-day reading stands at -0.94.

With a median target price of $23.00, the current consensus forecast for the stock is $16.00 – $30.00. Based on these forecasts, analysts predict CleanSpark Inc. (CLSK) will achieve an average price target of $23.00.


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