The trading price of CleanSpark, Inc. (NASDAQ:CLSK) closed lower on Monday, Feb 22, closing at $36.31, -17.43% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $29.54 and $35.85. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 3.88. In examining the 52-week price action we see that the stock hit a 52-week high of $42.6 and a 52-week low of $0.97. Over the past month, the stock has gained 18.97% in value.
CleanSpark, Inc., whose market valuation is $762.39 Million at the time of this writing, is expected to release its quarterly earnings report in Apr 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.02 per share this quarter, however they have predicted annual earnings per share of $0.13 for 2021 and $2.07 for 2022. It means analysts are expecting annual earnings per share growth of -1.05% this year and 14.92% next year.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of CleanSpark, Inc. 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CLSK has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned CLSK a recommendation rating is 1. Out of them, no one rate it a Hold, while 1 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged CleanSpark, Inc. (CLSK) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that CLSK’s price is currently 1% off the SMA20 and 8.76% off the SMA50. The RSI metric on the 14-day chart is currently showing 49.87, and weekly volatility stands at 20.41%. When measured over the past 30 days, the indicator reaches 13.77%. CleanSpark, Inc. (NASDAQ:CLSK)’s beta value is currently sitting at 3.88, while the Average True Range indicator is currently displaying 4.47. With analysts defining $50-$50 as the low and high price targets, we arrive at a consensus price target of $50 for the trailing 12-month period. The current price is about 66.78% off the estimated low and 66.78% off the forecast high, based on this estimate. Investors will be thrilled if CLSK’s share price rises to $50, which is the median consensus price. At that level, CLSK’s share price would be +66.78% above current price.
To see how CleanSpark, Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: CLSK stock’s performance was -17.43% in the latest trading, and +836.87% in the past year, while Spotify Technology S.A. (SPOT) has traded -4.03% on the day and positioned +138.12% higher than it was a year ago. Another comparable company Docusign Inc (DOCU) saw its stock close -8.16% lower in the most recent trading session but was up +174.44% in a year. Furthermore, Aptiv Plc (APTV) showed a decline of -17.43% on the day while its price kept rising at 836.87% over the past year. CleanSpark, Inc. has a P/E ratio of 0, compared to Spotify Technology S.A.’s 0 and Docusign Inc’s 0. Also in last trading session, the S&P 500 Index has soared -0.77%, while the Dow Jones Industrial also saw a positive session, up +0.09% on the day.
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An evaluation of the daily trading volume of CleanSpark, Inc. (NASDAQ:CLSK) indicates that the 3-month average is 3.23 Million. However, this figure has increased over the past 10 days to an average of 5.12 Million.
Currently, records show that 24.23 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 11.71% of outstanding shares, whereas institutions hold 14.38%. The stats also highlight that short interest as of January 28, 2021, stood at 1.41 Million shares, resulting in a short ratio of 0.42 at that time. From this, we can conclude that short interest is 5.87% of the company’s total outstanding shares. It is noteworthy that short shares in January were down slightly from the previous month’s figure, which was 1.59 Million. However, since the stock’s price has seen +3.2% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.