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How CleanSpark Inc. (NASDAQ: CLSK) Could Be A Loss Maker Since It Is Down -51.26% YTD?

During the last session, CleanSpark Inc. (NASDAQ:CLSK)’s traded shares were 2.1 million, with the beta value of the company hitting 3.63. At the end of the trading day, the stock’s price was $4.64, reflecting an intraday gain of 2.43% or $0.11. The 52-week high for the CLSK share is $23.60, that puts it down -408.62 from that peak though still a striking 19.18% gain since the share price plummeted to a 52-week low of $3.75. The company’s market capitalization is $195.48M, and the average intraday trading volume over the past 10 days was 2.06 million shares, and the average trade volume was 1.84 million shares over the past three months.

CleanSpark Inc. (CLSK) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. CLSK has a Sell rating from 0 analyst(s) out of 3 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.08.

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CleanSpark Inc. (NASDAQ:CLSK) trade information

CleanSpark Inc. (CLSK) registered a 2.43% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 2.43% in intraday trading to $4.64 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 14.00%, and it has moved by 7.41% in 30 days. Based on these gigs, the overall price performance for the year is -64.93%. The short interest in CleanSpark Inc. (NASDAQ:CLSK) is 7.03 million shares and it means that shorts have 4.89 day(s) to cover.

The consensus price target of analysts on Wall Street is $7.67, which implies an increase of 39.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $10.00 respectively. As a result, CLSK is trading at a discount of -115.52% off the target high and -29.31% off the low.

CleanSpark Inc. (CLSK) estimates and forecasts

Statistics show that CleanSpark Inc. has outperformed its competitors in share price, compared to the industry in which it operates. CleanSpark Inc. (CLSK) shares have gone down -35.82% during the last six months, with a year-to-date growth rate more than the industry average at 200.00% against 12.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 83.70% this quarter and then jump 13.30% in the quarter after that. In the rating firms’ projections, revenue will increase 217.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $36.67 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $37.6 million by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 7.90%. While earnings are projected to return 69.40% in 2022.

CLSK Dividends

CleanSpark Inc. is due to release its next quarterly earnings between February 10 and February 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

CleanSpark Inc. (NASDAQ:CLSK)’s Major holders

CleanSpark Inc. insiders own 4.53% of total outstanding shares while institutional holders control 31.04%, with the float percentage being 32.51%. Blackrock Inc. is the largest shareholder of the company, while 152 institutions own stock in it. As of Mar 30, 2022, the company held over 2.52 million shares (or 51.80% of all shares), a total value of $31.23 million in shares.

The next largest institutional holding, with 2.34 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 48.03% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $28.95 million.

Also, the Mutual Funds coming in first place with the largest holdings of CleanSpark Inc. (CLSK) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.26 million shares. This amounts to just over 25.81 percent of the company’s overall shares, with a $15.56 million market value. The same data shows that the other fund manager holds slightly less at 0.9 million, or about 18.52% of the stock, which is worth about $3.54 million.

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