Wall Street Analyst Downgrade Cleanspark Inc [CLSK]. What else is Wall St. saying

Cleanspark Inc [NASDAQ: CLSK] loss -8.22% or -1.9 points to close at $21.21 with a heavy trading volume of 42198541 shares. The company report on March 1, 2024 at 9:00 AM that CleanSpark Releases February 2024 Bitcoin Mining Update.

Hashrate grows 60% in a single month to exceed 16 EH/s with over 131,000 operational miners.

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Monthly bitcoin production increased 12%; Treasury increased to 4,218 bitcoin.

The daily chart for CLSK points out that the company has recorded 473.24% gains over the past six months.

If we look at the average trading volume of 35.72M shares, CLSK reached to a volume of 42198541 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 $23.17 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.

JP Morgan have made an estimate for Cleanspark Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 08, 2023. While these analysts kept the previous recommendation, Bernstein raised their target price to Outperform. The new note on the price target was released on October 31, 2023, representing the official price target for Cleanspark Inc stock. Previously, the target price had yet another raise to $5.50, while JP Morgan analysts kept a Overweight rating on CLSK stock.

The Average True Range (ATR) for Cleanspark Inc is set at 2.52, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 19.60. The Price to Book ratio for the last quarter was 4.86, with the Price to Cash per share for the same quarter was set at 0.89. Price to Free Cash Flow for CLSK in the course of the last twelve months was 76.92 with Quick ratio for the last quarter at 4.27.

Trading performance analysis for CLSK stock

Cleanspark Inc [CLSK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.12. With this latest performance, CLSK shares gained by 17.31% in over the last four-week period, additionally plugging by 473.24% over the last 6 months – not to mention a rise of 746.71% 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 58.07, with the RSI for the last a single of trading hit 57.11, and the three-weeks RSI is set at 58.54 for Cleanspark Inc [CLSK]. The present Moving Average for the last 50 days of trading for this stock 14.84, while it was recorded at 22.09 for the last single week of trading, and 8.14 for the last 200 days.

Cleanspark Inc [CLSK]: A deeper dive into fundamental analysis

Cleanspark Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.27 and a Current Ratio set at 4.29.

Cleanspark Inc [CLSK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Cleanspark Inc posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.30%. 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.

An analysis of Institutional ownership at Cleanspark Inc [CLSK]

The top three institutional holders of CLSK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CLSK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CLSK stock with ownership which is approximately 5.8325%.