CleanSpark, Inc. (NASDAQ:CLSK)’s Stock Price Continues to Fall

The trading price of CleanSpark, Inc. (NASDAQ:CLSK) closed lower on Tuesday, Apr 06, closing at $22.76, 0% lower than its previous close.

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Traders who pay close attention to intraday price movement should know that it fluctuated between $21.98 and $23.10. The company’s P/E ratio in the trailing 12-month period was 0, while its 5Y monthly beta was 3.7. 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 $1.03. Over the past month, the stock has gained 3.03% in value.

CleanSpark, Inc., whose market valuation is $798.88 Million at the time of this writing, is expected to release its quarterly earnings report in May 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 per share this quarter, however they have predicted annual earnings per share of $0.29 for 2021 and $2.45 for 2022. It means analysts are expecting annual earnings per share growth of -1.12% this year and 7.45% next year.

On the technical side, indicators suggest CLSK has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.

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 0% in the latest trading, and +2067.62% in the past year, while Spotify Technology S.A. (SPOT) has traded +3.31% on the day and positioned +131.2% higher than it was a year ago. Another comparable company Thomson Reuters Corp (TRI) saw its stock close 0.01% higher in the most recent trading session but was up +36.36% in a year. Furthermore, Rocket Companies Inc Cl A (RKT) showed a decline of 0% on the day while its price kept rising at 2067.62% over the past year. CleanSpark, Inc. has a P/E ratio of 0, compared to Spotify Technology S.A.’s 0 and Thomson Reuters Corp’s 39.26. Also in last trading session, the S&P 500 Index has soared -0.1%, while the Dow Jones Industrial also saw a negative seesion, down -0.29% on the day.

An evaluation of the daily trading volume of CleanSpark, Inc. (NASDAQ:CLSK) indicates that the 3-month average is 3.27 Million. However, this figure has declined over the past 10 days to an average of 1.92 Million.

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Currently, records show that 33.86 Million of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 8.66% of outstanding shares, whereas institutions hold 13.45%. The stats also highlight that short interest as of March 14, 2021, stood at 1.32 Million shares, resulting in a short ratio of 0.51 at that time. From this, we can conclude that short interest is 5.34% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 950.9 Million. However, since the stock’s price has seen -21.65% year-to-date, investors’ interest is likely to be reignited due to its potential to move higher ahead.

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