Cleanspark Inc (NASDAQ: CLSK)’s stock price has gone decline by -0.44 in comparison to its previous close of 9.03, however, the company has experienced a -4.16% decrease in its stock price over the last five trading days. prnewswire.com reported 2024-09-17 that LAS VEGAS, Sept. 17, 2024 /PRNewswire/ — CleanSpark Inc. (Nasdaq: CLSK), America’s Bitcoin Miner® (the “Company”) today announced it has acquired two Bitcoin mining sites and associated land near Clinton, Mississippi, and closed on its second site in Wyoming.
Is It Worth Investing in Cleanspark Inc (NASDAQ: CLSK) Right Now?
Additionally, the 36-month beta value for CLSK is 4.19. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 2 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CLSK is 244.79M and currently, short sellers hold a 16.92% ratio of that float. The average trading volume of CLSK on September 23, 2024 was 25.72M shares.
CLSK’s Market Performance
CLSK stock saw a decrease of -4.16% in the past week, with a monthly decline of -27.56% and a quarterly a decrease of -48.00%. The volatility ratio for the week is 6.08%, and the volatility levels for the last 30 days are 6.97% for Cleanspark Inc (CLSK). The simple moving average for the past 20 days is -8.66% for CLSK’s stock, with a -37.00% simple moving average for the past 200 days.
Analysts’ Opinion of CLSK
Many brokerage firms have already submitted their reports for CLSK stocks, with JP Morgan repeating the rating for CLSK by listing it as a “Neutral.” The predicted price for CLSK in the upcoming period, according to JP Morgan is $8 based on the research report published on December 08, 2023 of the previous year 2023.
Bernstein, on the other hand, stated in their research note that they expect to see CLSK reach a price target of $5.30. The rating they have provided for CLSK stocks is “Outperform” according to the report published on October 31st, 2023.
JP Morgan gave a rating of “Overweight” to CLSK, setting the target price at $5.50 in the report published on October 11th of the previous year.
CLSK Trading at -29.04% from the 50-Day Moving Average
After a stumble in the market that brought CLSK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -63.63% of loss for the given period.
Volatility was left at 6.97%, however, over the last 30 days, the volatility rate increased by 6.08%, as shares sank -24.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -39.91% lower at present.
During the last 5 trading sessions, CLSK fell by -4.16%, which changed the moving average for the period of 200-days by +1.35% in comparison to the 20-day moving average, which settled at $9.70. In addition, Cleanspark Inc saw -18.50% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CLSK starting from Wood Thomas Leigh, who sale 22,222 shares at the price of $9.24 back on Sep 12 ’24. After this action, Wood Thomas Leigh now owns 137,050 shares of Cleanspark Inc, valued at $205,331 using the latest closing price.
Wood Thomas Leigh, the Director of Cleanspark Inc, proposed sale 22,222 shares at $9.24 during a trade that took place back on Sep 12 ’24, which means that Wood Thomas Leigh is holding shares at $205,322 based on the most recent closing price.
Stock Fundamentals for CLSK
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.23 for the gross margin
The net margin for Cleanspark Inc stands at -0.46. The total capital return value is set at -0.02. Equity return is now at value -15.25, with -14.38 for asset returns.
Based on Cleanspark Inc (CLSK), the company’s capital structure generated 0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -17.4. The debt to equity ratio resting at 0.01. The interest coverage ratio of the stock is -30.67.
Currently, EBITDA for the company is -2.09 million with net debt to EBITDA at -0.88. When we switch over and look at the enterprise to sales, we see a ratio of 6.32. The receivables turnover for the company is 7.4for trailing twelve months and the total asset turnover is 0.23. The liquidity ratio also appears to be rather interesting for investors as it stands at 8.94.
Conclusion
In conclusion, Cleanspark Inc (CLSK) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
