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With -1.84% Distance From Low, Is CleanSpark Inc. (NASDAQ:CLSK) Still Renewed For Growth?

In last trading session, CleanSpark Inc. (NASDAQ:CLSK) saw 4.58 million shares changing hands with its beta currently measuring 3.47. Company’s recent per share price level of $3.26 trading at -$0.11 or -3.26% at ring of the bell on the day assigns it a market valuation of $166.23M. That closing price of CLSK’s stock is at a discount of -623.93% from its 52-week high price of $23.60 and is indicating a discount of -1.84% from its 52-week low price of $3.32. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.8 million shares which gives us an average trading volume of 2.18 million if we extend that period to 3-months.

For CleanSpark Inc. (CLSK), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.70. Splitting up the data highlights that, out of 3 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.08 in the current quarter.

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CleanSpark Inc. (NASDAQ:CLSK) trade information

Upright in the red during last session for losing -3.26%, in the last five days CLSK remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $3.26 price level, adding 24.54% to its value on the day. CleanSpark Inc.’s shares saw a change of -65.76% in year-to-date performance and have moved -24.01% in past 5-day. CleanSpark Inc. (NASDAQ:CLSK) showed a performance of -24.36% in past 30-days. Number of shares sold short was 7.03 million shares which calculate 4.89 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $10.33 to the stock, which implies a rise of 68.44% to its current value. Analysts have been projecting $9.00 as a low price target for the stock while placing it at a high target of $12.00. It follows that stock’s current price would drop -268.1% in reaching the projected high whereas dropping to the targeted low would mean a loss of -176.07% for stock’s current value.

CleanSpark Inc. (CLSK) estimates and forecasts

Statistics highlight that CleanSpark Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -74.21% of value to its shares in past 6 months, showing an annual growth rate of -14.63% while that of industry is 13.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 83.70% in the current quarter and calculating 13.30% increase in the next quarter. This year revenue growth is estimated to rise 217.90% from the last financial year’s standing.

3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $36.67 million for the same. And 3 analysts are in estimates of company making revenue of $37.6 million in the next quarter that will end on Sep 2022.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 7.90% during past 5 years.

CLSK Dividends

CleanSpark Inc. is more likely to be releasing its next quarterly report between February 10 and February 14 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 4.53% of company’s total shares while institution are holding 31.04 percent of that, with stock having share float percentage of 32.51%. Investors also watch the number of corporate investors in a company very closely, which is 31.04% institutions for CleanSpark Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at CLSK for having 2.52 million shares of worth $31.23 million. And as of Mar 30, 2022, it was holding 51.80% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 2.34 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 48.03% of outstanding shares, having a total worth of $28.95 million.

On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Mar 30, 2022, the former fund manager was holding 1.26 million shares of worth $15.56 million or 25.81% of the total outstanding shares. The later fund manager was in possession of 0.9 million shares on Jun 29, 2022, making its stake of worth around $3.54 million in the company or a holder of 18.52% of company’s stock.

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