Cleanspark Inc (NASDAQ:CLSK) price on Wednesday, February 05, fall -4.89% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $10.31.
A look at the stock’s price movement, the close in the last trading session was $10.84, moving within a range at $10.285 and $11.01. The beta value (5-Year monthly) was 4.195. Turning to its 52-week performance, $24.72 and $7.64 were the 52-week high and 52-week low respectively. Overall, CLSK moved -4.54% over the past month.
Cleanspark Inc’s market cap currently stands at around $2.90 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 155.46M for the company’s revenue for the quarter, with a low and high estimate of 132.19M and 162.3M respectively. The average forecast suggests up to a 110.69% 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 832.08M, representing a 119.57% 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 100% 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 -3.86% and -11.75% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.21, while 7-day volatility ratio is 7.87% and 8.05% in the 30-day chart. Further, Cleanspark Inc (CLSK) has a beta value of 4.17, and an average true range (ATR) of 0.96. 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 -113.39% off current price level while to achieve the yearly target high, price needs to move -161.88%. Nonetheless, investors will most likely welcome a -161.88% 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 22.78 over the past 10 days and 33.63 million over the past 3 months. The company’s latest data on shares outstanding shows there are 280.81 million shares.
The 2.97% of Cleanspark Inc’s shares are in the hands of company insiders while institutional holders own 41.48% 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 11.94% 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.
