CleanSpark Inc. (NASDAQ:CLSK) traded with an addition of $0.05 to close at $2.00 on Friday, an upside of 2.59 percent. An average of 1,924,194 shares of common stock have been traded in the last five days. There was a fall of -$0.0238 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 2,733,919 shares traded, while the 50-day average volume stands at 3,009,971.
CLSK stock has decreased by -5.34% in the last month. The company shares reached their 1-month lowest point of $1.7400 on 12/19/22. With the stock rallying to its 52-week high on 03/28/22, shares of the company touched a low of $1.74 and a high of $13.91 in 52 weeks. It has reached a new high 11 times so far this year and lost -79.52% or -$7.5038 in price. In spite of this, the price is down -85.62% from the 52-week high.
CleanSpark Inc. (CLSK) stock’s beta is 3.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.10, the price-to-book (PB) ratio at 0.23, and the price-to-cash flow ratio at 2.78.
The quick ratio of CleanSpark Inc. for the three months ended September 29 was 1.50, and the current ratio was 1.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.05 for the quarter ending September 29. Its gross profit as reported stood at $90.29 million compared to revenue of $131.52 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 -13.50%.
For the three-month period that ended September 29, CleanSpark Inc. had $31.86 million in cash and short-term investments compared to $12.98 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$29.34 million in the quarter, while revenues were grew 43.15%. The analyst consensus anticipated CleanSpark Inc.’s latest quarter earnings to come in at -$0.41 per share, but it turned out to be -$0.99, a -141.50% surprise. For the quarter, EBITDA amounted to -$17.01 million. Shareholders own equity worth $71.71 million.
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 29 December was 49.41%, suggesting the stock is Neutral, with historical volatility in this time frame at 129.52%.
As of today, CLSK’s price is $1.9252 -1.17% or -$0.0238 from its 5-day moving average. CLSK is currently trading -12.34% lower than its 20-day SMA and -56.92% lower than its 100-day SMA. However, the stock’s current price level is -31.42% below the SMA50 and -80.35% below the SMA200.
The stochastic %K and %D were 24.24% and 20.57%, respectively, and the average true range (ATR) was 0.1911. With the 14-day stochastic at 36.10% and the average true range at 0.1988, the RSI (14) stands at 45.69%. The stock has reached -0.0131 on the 9-day MACD Oscillator while the 14-day reading was at -0.0786.
Cantor Fitzgerald launched coverage on CleanSpark Inc. (NASDAQ: CLSK) in its analyst report released on December 09, 2022. The firm assigned the stock an Overweight 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 3 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 $5.00 and $12.00, with a median target of $5.00. Taking a look at these predictions, the average price target given by analysts for CleanSpark Inc. (CLSK) stock is $7.33.