CleanSpark Inc. [CLSK] Stock trading around $11.18 per share: What’s Next?

CleanSpark Inc. [NASDAQ: CLSK] stock went on an upward path that rose over 8.23% on Wednesday, amounting to a one-week price increase of more than 59.94%. The company report on August 7, 2020 that CleanSpark, Inc. and Sunshine Energy Announce Exclusive Costa Rica Partnership.

CleanSpark, Inc. (Nasdaq: CLSK), “the Company” a diversified software and services company and Sunshine Energy Corp., (Sunshine) are pleased to announce the consummation of an exclusive partnership. The agreement allows Sunshine the exclusive right to market and sell CleanSpark’s products and services throughout the country of Costa Rica. As part of the agreement, Sunshine will license mVSO (microgrid Value Stream Optimizer) energy modeling software for exclusive use in Costa Rica. Additionally, Sunshine agrees to procure all energy controls and energy storage systems directly through the Company. CleanSpark agrees to provide designated sales and consulting support to Sunshine, as well as favorable pricing for technical support services on all relevant projects.

Sunshine Energy is one of the largest energy developers in the Country and is a subsidiary of Losko Costa Rica. Sunshine’s goal is to provide new energy innovation through technology, as a result they are actively pursuing new microgrid development throughout the region. Norfund, the Norwegian Fund for Developing Countries and Sunshine have a strategic alliance that will facilitate the financing of energy projects. Costa Rica has one of the cleanest electric matrixes in the world. In 2018, the country managed to produce 98.6% of its energy from renewable sources.

Over the last 12 months, CLSK stock rose by 8.54%. The average equity rating for CLSK stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $166.13 million, with 17.35 million shares outstanding and 16.08 million shares in the current float. Compared to the average trading volume of 5.46M shares, CLSK stock reached a trading volume of 3877721 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on CleanSpark Inc. [CLSK]:

The Average True Range (ATR) for CleanSpark Inc. is set at 1.37, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 15.97. The Price to Book ratio for the last quarter was 6.78, with the Price to Cash per share for the same quarter was set at 0.17.

CLSK Stock Performance Analysis:

CleanSpark Inc. [CLSK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 59.94. With this latest performance, CLSK shares gained by 228.82% in over the last four-week period, additionally plugging by 155.25% over the last 6 months – not to mention a rise of 8.54% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLSK stock in for the last two-week period is set at 74.36, with the RSI for the last a single of trading hit 73.82, and the three-weeks RSI is set at 74.07 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 4.20, while it was recorded at 10.15 for the last single week of trading, and 3.91 for the last 200 days.

Insight into CleanSpark Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and CleanSpark Inc. [CLSK] shares currently have an operating margin of -213.97 and a Gross Margin at -87.19. CleanSpark Inc.’s Net Margin is presently recorded at -576.18.

Return on Total Capital for CLSK is now -49.59, given the latest momentum, and Return on Invested Capital for the company is -136.96. Return on Equity for this stock declined to -149.49, with Return on Assets sitting at -127.43. When it comes to the capital structure of this company, CleanSpark Inc. [CLSK] has a Total Debt to Total Equity ratio set at 16.49. Additionally, CLSK Total Debt to Total Capital is recorded at 14.15, with Total Debt to Total Assets ending up at 13.29. Long-Term Debt to Equity for the company is recorded at 16.13, with the Long-Term Debt to Total Capital now at 13.85.

Reflecting on the efficiency of the workforce at the company, CleanSpark Inc. [CLSK] managed to generate an average of -$1,305,847 per employee. Receivables Turnover for the company is 9.84 with a Total Asset Turnover recorded at a value of 0.22.CleanSpark Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.50.

CLSK Stock EPS

With the latest financial reports released by the company, CleanSpark Inc. posted -2.75/share EPS, while the average EPS was predicted by analysts to be reported at -1.7/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -61.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CLSK.

CleanSpark Inc. [CLSK] Insider Position Details

There are presently around $1 million, or 0.70% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: HBC FINANCIAL SERVICES, PLLC with ownership of 63,706, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; CETERA ADVISOR NETWORKS LLC, holding 28,900 shares of the stock with an approximate value of $0.32 million in CLSK stocks shares; and TOWNSQUARE CAPITAL LLC, currently with $0.27 million in CLSK stock with ownership of nearly New of the company’s market capitalization.

Positions in CleanSpark Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 10 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 65,553 shares. Additionally, 0 investors decreased positions by around 0 shares, while 2 investors held positions by with 63,836 shares. The mentioned changes placed institutional holdings at 129,389 shares, according to the latest SEC report filing. CLSK stock had 10 new institutional investments in for a total of 65,553 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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