CleanSpark Inc. [CLSK] Stock trading around $1.90 per share: What’s Next?

CleanSpark Inc. [NASDAQ: CLSK] stock went on a downward path that fall over -16.67% on Thursday, amounting to a one-week price decrease of less than -9.95%. The company report on December 14, 2022 that CleanSpark Reports Fourth Quarter and Year End FY2022 Financial Results.

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2022 Revenue of $131.5 million, net loss of $(57.3) million and Adjusted EBITDA of $65.7 million.

Q4 revenue of $26.2 million, net loss of $(42.3) million and Adjusted EBITDA of $2.9 million.

Over the last 12 months, CLSK stock dropped by -84.81%. The one-year CleanSpark Inc. stock forecast points to a potential upside of 79.64. The average equity rating for CLSK stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $88.67 million, with 41.28 million shares outstanding and 40.97 million shares in the current float. Compared to the average trading volume of 2.93M shares, CLSK stock reached a trading volume of 6479752 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $9.33 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 1.70. 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.

Cantor Fitzgerald have made an estimate for CleanSpark Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 26, 2022, representing the official price target for CleanSpark Inc. stock. Previously, the target price had yet another raise to $12, while Chardan Capital Markets analysts kept a Buy rating on CLSK stock.

The Average True Range (ATR) for CleanSpark Inc. is set at 0.21, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 0.21, with the Price to Cash per share for the same quarter was set at 0.07.

CLSK Stock Performance Analysis:

CleanSpark Inc. [CLSK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.95. With this latest performance, CLSK shares dropped by -26.64% in over the last four-week period, additionally sinking by -57.30% over the last 6 months – not to mention a drop of -84.81% 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 35.42, with the RSI for the last a single of trading hit 32.93, and the three-weeks RSI is set at 36.94 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 2.68, while it was recorded at 2.17 for the last single week of trading, and 5.38 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 -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 1.50 and a Current Ratio set at 1.50.

CleanSpark Inc. [CLSK] Insider Position Details

There are presently around $32 million, or 36.00% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: BLACKROCK INC. with ownership of 2,919,134, which is approximately 8.362% of the company’s market cap and around 11.00% of the total institutional ownership; VANGUARD GROUP INC, holding 2,306,045 shares of the stock with an approximate value of $4.38 million in CLSK stocks shares; and STATE STREET CORP, currently with $2.38 million in CLSK stock with ownership of nearly 0.409% 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 58 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 4,746,724 shares. Additionally, 42 investors decreased positions by around 1,849,076 shares, while 20 investors held positions by with 9,995,787 shares. The mentioned changes placed institutional holdings at 16,591,587 shares, according to the latest SEC report filing. CLSK stock had 17 new institutional investments in for a total of 790,879 shares, while 20 institutional investors sold positions of 852,342 shares during the same period.


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