CleanSpark Inc. [NASDAQ: CLSK] closed the trading session at $17.01 on 05/26/21. The day’s price range saw the stock hit a low of $15.40, while the highest price level was $17.25. The company report on May 26, 2021 that CleanSpark Finalizes Purchase of ATL Data Center Real Estate.
CleanSpark, Inc. (Nasdaq: CLSK)(“CleanSpark” or the “Company”), a diversified energy services and Bitcoin mining company, focused on solving modern energy challenges, announced that it had completed the purchase of the six acre property which houses ATL Data Centers LLC and the 41,387 square foot data center building.
As a part of the transaction in December of 2020, CleanSpark acquired the existing Bitcoin mining ‘mobile data centers’ within the facilities. The Company is in the process of expanding the number of mobile units deployed on-site in support of its focus on maximizing value and minimizing operating expense. A purchase option for the building and site was included in the original lease agreement at closing, and the resulting purchase transaction was finalized May 20, 2021 at a price of $4.71M. Obtaining ownership of the property will save the Company over fifty thousand dollars per month in rent resulting in a reduction of overhead and expenses by more than 20% in our mining segment. The Company will leverage the additional acreage to add renewables on site and to maximize the value of its substantial power purchase agreement. Each of these steps are in support of the Company’s disclosed intent to reach carbon neutrality at the facility in 2022, demonstrating what is believed to be the lowest cost/cleanest mix of any American Bitcoin miner operating at scale.
The stocks have a year to date performance of -41.45 percent and weekly performance of 14.55 percent. The stock has been moved at 53.38 percent over the last six months. The stock has performed -23.24 percent around the most recent 30 days and changed -31.02 percent over the most recent 3-months.
If compared to the average trading volume of 2.40M shares, CLSK reached to a volume of 1591211 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 1.71, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 38.20. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 4.45.
CLSK stock trade performance evaluation
CleanSpark Inc. [CLSK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.55. With this latest performance, CLSK shares dropped by -23.24% in over the last four-week period, additionally plugging by 53.38% over the last 6 months – not to mention a rise of 737.93% 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 48.02, with the RSI for the last a single of trading hit 53.23, and the three-weeks RSI is set at 46.13 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 19.57, while it was recorded at 15.74 for the last single week of trading, and 18.34 for the last 200 days.
CleanSpark Inc. [CLSK]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for CleanSpark Inc. [CLSK] stock
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.
CleanSpark Inc. [CLSK]: Insider Ownership positions
There are presently around $125 million, or 21.80% 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 $16.62 million in CLSK stocks shares; and TOROSO INVESTMENTS, LLC, currently with $14.23 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 4,182,702 shares. Additionally, 25 investors decreased positions by around 856,358 shares, while 10 investors held positions by with 2,305,820 shares. The mentioned changes placed institutional holdings at 7,344,880 shares, according to the latest SEC report filing. CLSK stock had 27 new institutional investments in for a total of 2,211,683 shares, while 11 institutional investors sold positions of 390,722 shares during the same period.