Cleanspark Inc [NASDAQ: CLSK] price surged by 1.36 percent to reach at $0.05. The company report on November 2, 2023 at 9:00 AM that CleanSpark Releases October 2023 Bitcoin Mining Update.
The Company mined 633 bitcoin in October and increased its bitcoin holdings to 2,311.
Hashrate surpassed 10 exahashes per second (EH/s), with nearly 89,000 miners operational.
A sum of 24836644 shares traded at recent session while its average daily volume was at 12.66M shares. Cleanspark Inc shares reached a high of $3.8795 and dropped to a low of $3.46 until finishing in the latest session at $3.74.
The one-year CLSK stock forecast points to a potential upside of 62.49. The average equity rating for CLSK stock is currently 1.17, trading closer to a bullish pattern in the stock market.
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 $9.97 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 1.17. 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.
Bernstein have made an estimate for Cleanspark Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 31, 2023.
The Average True Range (ATR) for Cleanspark Inc is set at 0.43, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 4.02. The Price to Book ratio for the last quarter was 0.82, with the Price to Cash per share for the same quarter was set at 0.24. Price to Free Cash Flow for CLSK in the course of the last twelve months was 5.85 with Quick ratio for the last quarter at 1.38.
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 -15.96. With this latest performance, CLSK shares gained by 4.76% in over the last four-week period, additionally sinking by -12.62% over the last 6 months – not to mention a rise of 50.50% 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 41.89, with the RSI for the last a single of trading hit 37.71, and the three-weeks RSI is set at 43.59 for Cleanspark Inc [CLSK]. The present Moving Average for the last 50 days of trading for this stock 4.09, while it was recorded at 4.00 for the last single week of trading, and 4.15 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 -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 1.38 and a Current Ratio set at 1.41.
Cleanspark Inc [CLSK] Institutonal Ownership Details
The top three institutional holders of CLSK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in CLSK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in CLSK stock with ownership which is approximately 5.7994%.
