CleanSpark Inc. [NASDAQ: CLSK] loss -6.56% or -1.03 points to close at $14.66 with a heavy trading volume of 1630432 shares. The company report on May 17, 2021 that CleanSpark to Participate in Water Tower Research Fireside Chat Series on CleanSpark’s Bitcoin Mining and Enterprise Computing Initiative Towards Zero-Emissions.
CleanSpark, Inc. (Nasdaq: CLSK)(“CleanSpark” or “the Company”), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, announced that CEO Zach Bradford will be participating in the Water Tower Research Virtual Conference and Fireside Chat Series on Tuesday, May 18, 2020, at 3:00 pm ET.
Topics covered will include the Company’s bitcoin mining operation, the enterprise computing industry’s need to manage its emissions, and CleanSpark’s efforts to mine at or near zero-emissions. The chat will feature CleanSpark Chief Executive Officer Zach Bradford, and will be moderated by Shawn Severson, Head of Sustainable Investing at Water Tower Research.
It opened the trading session at $14.41, the shares rose to $15.73 and dropped to $14.30, the range by which the price of stock traded the whole day. The daily chart for CLSK points out that the company has recorded 64.90% gains over the past six months. However, it is still -845.81% lower than its most recent low trading price.
If we look at the average trading volume of 2.66M shares, CLSK reached to a volume of 1630432 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about CleanSpark Inc. [CLSK]:
BTIG Research have made an estimate for CleanSpark Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 11, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $24 to $50. The new note on the price target was released on February 16, 2021, representing the official price target for CleanSpark Inc. stock. Previously, the target price had yet another raise from $18 to $24, while H.C. Wainwright kept a Buy rating on CLSK stock.
The Average True Range (ATR) for CleanSpark Inc. is set at 1.92, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 27.84. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 5.26.
Trading performance analysis for CLSK stock
CleanSpark Inc. [CLSK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.67. With this latest performance, CLSK shares dropped by -22.60% in over the last four-week period, additionally plugging by 64.90% over the last 6 months – not to mention a rise of 762.35% 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 36.12, with the RSI for the last a single of trading hit 33.58, and the three-weeks RSI is set at 38.71 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 21.15, while it was recorded at 14.94 for the last single week of trading, and 18.08 for the last 200 days.
CleanSpark Inc. [CLSK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and CleanSpark Inc. [CLSK] shares currently have an operating margin of -151.00 and a Gross Margin at -75.07. CleanSpark Inc.’s Net Margin is presently recorded at -232.79.
Return on Total Capital for CLSK is now -77.66, given the latest momentum, and Return on Invested Capital for the company is -120.06. Return on Equity for this stock declined to -132.23, with Return on Assets sitting at -102.01. When it comes to the capital structure of this company, CleanSpark Inc. [CLSK] has a Total Debt to Total Equity ratio set at 3.49. Additionally, CLSK Total Debt to Total Capital is recorded at 3.37, with Total Debt to Total Assets ending up at 2.56. Long-Term Debt to Equity for the company is recorded at 3.23, with the Long-Term Debt to Total Capital now at 3.12.
Reflecting on the efficiency of the workforce at the company, CleanSpark Inc. [CLSK] managed to generate an average of -$376,551 per employee. Receivables Turnover for the company is 10.63 with a Total Asset Turnover recorded at a value of 0.44.CleanSpark Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.20 and a Current Ratio set at 24.30.
CleanSpark Inc. [CLSK]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, CleanSpark Inc. posted -0.77/share EPS, while the average EPS was predicted by analysts to be reported at -1.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 25.20%. 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.
An analysis of insider ownership at CleanSpark Inc. [CLSK]
There are presently around $105 million, or 14.90% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: VANGUARD GROUP INC with ownership of 1,426,554, which is approximately 48.058% of the company’s market cap and around 2.80% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 976,945 shares of the stock with an approximate value of $14.32 million in CLSK stocks shares; and TOROSO INVESTMENTS, LLC, currently with $12.26 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 47 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 4,029,968 shares. Additionally, 24 investors decreased positions by around 824,215 shares, while 10 investors held positions by with 2,297,961 shares. The mentioned changes placed institutional holdings at 7,152,144 shares, according to the latest SEC report filing. CLSK stock had 27 new institutional investments in for a total of 2,243,766 shares, while 10 institutional investors sold positions of 358,579 shares during the same period.