CleanSpark Inc. [CLSK] is -66.09% lower this YTD. Is it still time to buy?



CleanSpark Inc. [NASDAQ: CLSK] loss -10.54% on the last trading session, reaching $9.85 price per share at the time. The company report on December 16, 2021 that CleanSpark Marks Its One-Year Anniversary of Sustainable Bitcoin Mining.

Renewable energy mix used at Atlanta, GA, facilities since first bitcoin mined in December 2020.

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CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”), a sustainable bitcoin mining and energy technology company, today announced the one-year anniversary of its bitcoin mining operations. CleanSpark implements an ESG approach by sourcing regional energy mixes with strong renewable energy portfolios for its mining facilities in Norcross and College Park, Georgia.

CleanSpark Inc. represents 35.70 million in outstanding shares, while the company has a total market value of $386.02 million with the latest information. CLSK stock price has been found in the range of $9.80 to $10.94.

If compared to the average trading volume of 1.95M shares, CLSK reached a trading volume of 3752723 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CLSK shares is $25.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CLSK stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for CleanSpark Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 22, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on March 11, 2021, representing the official price target for CleanSpark Inc. stock. Previously, the target price had yet another raise from $24 to $50, while H.C. Wainwright kept a Buy rating on CLSK stock. On December 11, 2020, analysts increased their price target for CLSK shares from 18 to 24.

The Average True Range (ATR) for CleanSpark Inc. is set at 1.32, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 15.95. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 0.47.

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 -13.52. With this latest performance, CLSK shares dropped by -44.57% in over the last four-week period, additionally sinking by -40.81% over the last 6 months – not to mention a drop of -63.12% 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 29.96, with the RSI for the last a single of trading hit 26.76, and the three-weeks RSI is set at 33.52 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 16.63, while it was recorded at 11.25 for the last single week of trading, and 16.32 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 -31.74 and a Gross Margin at -4.30. CleanSpark Inc.’s Net Margin is presently recorded at -44.12.

Return on Equity for this stock declined to -13.54, with Return on Assets sitting at -12.84.

CleanSpark Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.50 and a Current Ratio set at 5.70.

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An analysis of insider ownership at CleanSpark Inc. [CLSK]

There are presently around $127 million, or 28.10% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: BLACKROCK INC. with ownership of 2,227,907, which is approximately -0.016% of the company’s market cap and around 2.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,716,902 shares of the stock with an approximate value of $18.9 million in CLSK stocks shares; and INTRINSIC EDGE CAPITAL MANAGEMENT LLC, currently with $10.62 million in CLSK stock with ownership of nearly 86.483% of the company’s market capitalization.

Positions in CleanSpark Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 51 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 2,455,520 shares. Additionally, 37 investors decreased positions by around 1,295,355 shares, while 16 investors held positions by with 7,762,940 shares. The mentioned changes placed institutional holdings at 11,513,815 shares, according to the latest SEC report filing. CLSK stock had 18 new institutional investments in for a total of 885,002 shares, while 15 institutional investors sold positions of 304,891 shares during the same period.