CleanSpark Inc. [CLSK] Revenue clocked in at $122.20 million, up 83.33% YTD: What’s Next?

CleanSpark Inc. [NASDAQ: CLSK] loss -3.36% on the last trading session, reaching $3.74 price per share at the time. The company report on April 11, 2023 at 9:00 AM that CleanSpark to Double its Bitcoin Mining Capacity with $144.9M Expansion Deal.

The Antminer S19 XP units are the most power-efficient bitcoin mining machines available today; CleanSpark now has approximately 15.9 EH/s of machines on hand or under contract for delivery this year, edging closer to its year-end guidance of 16 EH/s.

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CleanSpark Inc. represents 66.39 million in outstanding shares, while the company has a total market value of $293.96 million with the latest information. CLSK stock price has been found in the range of $3.61 to $4.00.

If compared to the average trading volume of 5.62M shares, CLSK reached a trading volume of 7004836 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 $7.75 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 0.42, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 2.41. The Price to Book ratio for the last quarter was 0.58, with the Price to Cash per share for the same quarter was set at 0.03.

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 -14.81. With this latest performance, CLSK shares gained by 30.31% in over the last four-week period, additionally plugging by 29.41% over the last 6 months – not to mention a drop of -55.84% 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 55.96, with the RSI for the last a single of trading hit 53.31, and the three-weeks RSI is set at 56.46 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 2.95, while it was recorded at 4.20 for the last single week of trading, and 3.23 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 -12.60 and a Gross Margin at +0.25. CleanSpark Inc.’s Net Margin is presently recorded at -30.48.

Return on Total Capital for CLSK is now -4.51, given the latest momentum, and Return on Invested Capital for the company is -11.05. Return on Equity for this stock declined to -11.30, with Return on Assets sitting at -10.41. When it comes to the capital structure of this company, CleanSpark Inc. [CLSK] has a Total Debt to Total Equity ratio set at 5.50. Additionally, CLSK Total Debt to Total Capital is recorded at 5.21, with Total Debt to Total Assets ending up at 4.91. Long-Term Debt to Equity for the company is recorded at 3.48, with the Long-Term Debt to Total Capital now at 3.30.

Reflecting on the efficiency of the workforce at the company, CleanSpark Inc. [CLSK] managed to generate an average of -$308,380 per employee. Receivables Turnover for the company is 99.38 with a Total Asset Turnover recorded at a value of 0.34.CleanSpark Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

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

There are presently around $95 million, or 30.50% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: BLACKROCK INC. with ownership of 3,906,035, which is approximately 33.808% of the company’s market cap and around 9.30% of the total institutional ownership; VANGUARD GROUP INC, holding 2,860,387 shares of the stock with an approximate value of $11.07 million in CLSK stocks shares; and INVESCO LTD., currently with $10.54 million in CLSK stock with ownership of nearly 6135.999% of the company’s market capitalization.

Positions in CleanSpark Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 65 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 10,578,398 shares. Additionally, 34 investors decreased positions by around 2,570,376 shares, while 16 investors held positions by with 11,495,982 shares. The mentioned changes placed institutional holdings at 24,644,756 shares, according to the latest SEC report filing. CLSK stock had 16 new institutional investments in for a total of 985,516 shares, while 16 institutional investors sold positions of 993,460 shares during the same period.


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