The stock price of Cleanspark Inc (NASDAQ: CLSK) has jumped by 0.74 compared to previous close of 11.96. Despite this, the company has seen a fall of -6.31% in its stock price over the last five trading days. zacks.com reported 2024-10-23 that The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock’s price.
Is It Worth Investing in Cleanspark Inc (NASDAQ: CLSK) Right Now?
Additionally, the 36-month beta value for CLSK is 4.21. 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 244.46M and currently, short sellers hold a 20.61% ratio of that float. The average trading volume of CLSK on October 25, 2024 was 23.34M shares.
CLSK’s Market Performance
CLSK’s stock has seen a -6.31% decrease for the week, with a 19.41% rise in the past month and a -26.04% fall in the past quarter. The volatility ratio for the week is 7.61%, and the volatility levels for the past 30 days are at 7.76% for Cleanspark Inc. The simple moving average for the past 20 days is 15.18% for CLSK’s stock, with a -15.33% simple moving average for the past 200 days.
Analysts’ Opinion of CLSK
Many brokerage firms have already submitted their reports for CLSK stocks, with Macquarie repeating the rating for CLSK by listing it as a “Outperform.” The predicted price for CLSK in the upcoming period, according to Macquarie is $20 based on the research report published on September 25, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see CLSK reach a price target of $8, previously predicting the price at $9. The rating they have provided for CLSK stocks is “Neutral” according to the report published on December 08th, 2023.
Bernstein gave a rating of “Outperform” to CLSK, setting the target price at $5.30 in the report published on October 31st of the previous year.
CLSK Trading at 17.82% 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 -51.26% of loss for the given period.
Volatility was left at 7.76%, however, over the last 30 days, the volatility rate increased by 7.61%, as shares surge +19.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.58% upper at present.
During the last 5 trading sessions, CLSK fell by -6.10%, which changed the moving average for the period of 200-days by +20.93% in comparison to the 20-day moving average, which settled at $10.46. In addition, Cleanspark Inc saw 9.24% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CLSK starting from Monnig Taylor, who sale 1,350 shares at the price of $10.44 back on Sep 27 ’24. After this action, Monnig Taylor now owns 209,652 shares of Cleanspark Inc, valued at $14,094 using the latest closing price.
Monnig Taylor, the Officer of Cleanspark Inc, proposed sale 1,350 shares at $10.44 during a trade that took place back on Sep 27 ’24, which means that Monnig Taylor is holding shares at $14,094 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 8.64. 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 mixed 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.
