As of Wednesday close, CleanSpark Inc.’s (NASDAQ:CLSK) stock was down -$0.16, moving down -3.66 percent to $4.21. The average number of shares traded per day over the past five days has been 12,226,180 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.10 fall in that time frame. In the last twenty days, the average volume was 10,262,680, while in the previous 50 days, it was 11,107,656.
Since last month, CLSK stock retreated -15.12%. Shares of the company fell to $4.15 on 09/11/23, the lowest level in the past month. A 52-week high of $7.60 was reached on 07/17/23 after having rallying from a 52-week low of $1.74. Since the beginning of this year, CLSK’s stock price has risen by 106.37% or $2.17, and marked a new high 25 times. However, the stock has declined by -44.60% since its 52-week high.
CLSK stock investors should be aware that CleanSpark Inc. (CLSK) stock had its last reported insider trading activity 279 days ago on Dec 16. Vecchiarelli Gary Anthony, the Chief Financial Officer of the company, purchased of 19,400 shares for $1.78 on Dec 16. It resulted in a $34,532 investment by the insider.
Valuation Metrics
The stock’s beta is 3.30. Besides these, the trailing price-to-sales (P/S) ratio of 4.74, the price-to-book (PB) ratio of 0.80.
Financial Health
In the recent quarter, CleanSpark Inc.’s quick ratio stood at 1.40, while its current ratio was 1.40, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the recent quarter was 0.02, and the total debt-to-equity ratio was 0.03. On the profitability front, the trailing twelve-month gross margin is 43.80% percent. In the recent year, EBITDA margin amounted to 24.78%, whereas operating margins totaled -72.30%. Based on annual data, CLSK earned $90.29 million in gross profit and brought in $131.52 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 -8.90%. Return on equity (ROE) for the past 12 months was -21.80%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. During the quarter, the company generated $6.29 million in EBITDA. The liabilities of CleanSpark Inc. were 49.16 million at the end of its most recent quarter, and its total debt was $18.79 million. The value of shareholders’ equity is $152.64 million.
Technical Picture
This quick technical analysis looks at CleanSpark Inc.’s (CLSK) price momentum. With a historical volatility rate of 61.75%, the RSI 9-day stood at 36.92% on 20 September.
With respect to its five-day moving average, the current CleanSpark Inc. price is down by -2.32% percent or -$0.10. At present, CLSK shares trade -10.23% below its 20-day simple moving average and +6.05% percent above its 100-day simple moving average. However, the stock is currently trading approximately -34.42% below its SMA50 and +83.04% above its SMA200.
Stochastic coefficient K was 16.67% and Stochastic coefficient D was 22.57%, while ATR was 0.37. Given the Stochastic reading of 4.69% for the 14-day period, the RSI (14) reading has been calculated as 39.09%. As of today, the MACD Oscillator reading stands at -0.01, while the 14-day reading stands at -0.10.
Analyst Ratings
Cantor Fitzgerald launched its rating on CleanSpark Inc. (NASDAQ: CLSK) to an Overweight in a note to investors on December 09, 2022. CleanSpark Inc. (CLSK) has been rated Buy by analysts. According to 0 brokerage firms, CLSK is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate CleanSpark Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $10.50, the current consensus forecast for the stock is $10.00 – $14.00. Based on these forecasts, analysts predict CleanSpark Inc. (CLSK) will achieve an average price target of $11.25.
