Cleanspark Inc (NASDAQ:CLSK) price on Wednesday, January 15, rose 8.21% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $11.20.
A look at the stock’s price movement, the close in the last trading session was $10.35, moving within a range at $10.74 and $11.43. The beta value (5-Year monthly) was 4.195. Turning to its 52-week performance, $24.72 and $6.41 were the 52-week high and 52-week low respectively. Overall, CLSK moved -9.16% over the past month.
Cleanspark Inc’s market cap currently stands at around $3.28 billion, with investors looking forward to this quarter’s earnings report slated for in February.
Analysts have a consensus estimate of 149.05M for the company’s revenue for the quarter, with a low and high estimate of 132.19M and 161.8M respectively. The average forecast suggests up to a 102.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 744.87M, representing a 96.55% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that CLSK is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend CLSK as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
CLSK’s current price about 5.51% and -9.66% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.41, while 7-day volatility ratio is 7.39% and 8.76% in the 30-day chart. Further, Cleanspark Inc (CLSK) has a beta value of 4.24, and an average true range (ATR) of 1.03. Analysts have given the company’s stock an average 52-week price target of $27, forecast between a low of $22 and high of $27. Looking at the price targets, the low is -96.43% off current price level while to achieve the yearly target high, price needs to move -141.07%. Nonetheless, investors will most likely welcome a -141.07% jump to $27 which is the analysts’ median price.
If we refocus on Cleanspark Inc (NASDAQ:CLSK), historical trading data shows that trading volumes averaged 23.25 over the past 10 days and 36.03 million over the past 3 months. The company’s latest data on shares outstanding shows there are 292.56 million shares.
The 2.94% of Cleanspark Inc’s shares are in the hands of company insiders while institutional holders own 38.98% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 49.98 million on 2024-11-15, giving us a short ratio of 1.39. The data shows that as of 2024-11-15 short interest in Cleanspark Inc (CLSK) stood at 1995.0001 of shares outstanding, with shares short falling to 50.39 million registered in 2024-10-15. Current price change has pushed the stock 21.61% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CLSK stock continues to rise going into the next quarter.
