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When Is CleanSpark Inc. (CLSK) Going To Be Good Investment?

CleanSpark Inc. (NASDAQ:CLSK) has a beta value of 3.22 and has seen 5.1 million shares traded in the last trading session. The company, currently valued at $191.45M, closed the last trade at $2.83 per share which meant it gained $0.19 on the day or 7.20% during that session. The CLSK stock price is -391.52% off its 52-week high price of $13.91 and 38.52% above the 52-week low of $1.74. If we look at the company’s 10-day average daily trading volume, we find that it stood at 4.4 million shares traded. The 3-month trading volume is 3.24 million shares.

The consensus among analysts is that CleanSpark Inc. (CLSK) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 3 have rated it as a Hold, with 3 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.39.

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CleanSpark Inc. (NASDAQ:CLSK) trade information

Sporting 7.20% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the CLSK stock price touched $2.83 or saw a rise of 6.6%. Year-to-date, CleanSpark Inc. shares have moved 38.73%, while the 5-day performance has seen it change 9.69%. Over the past 30 days, the shares of CleanSpark Inc. (NASDAQ:CLSK) have changed 48.17%. Short interest in the company has seen 6.75 million shares shorted with days to cover at 2.37.

Wall Street analysts have a consensus price target for the stock at $7.33, which means that the shares’ value could jump 61.39% from current levels. The projected low price target is $5.00 while the price target rests at a high of $12.00. In that case, then, we find that the current price level is -324.03% off the targeted high while a plunge would see the stock gain -76.68% from current levels.

CleanSpark Inc. (CLSK) estimates and forecasts

Figures show that CleanSpark Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -34.03% over the past 6 months, with this year growth rate of -397.30%, compared to 12.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -160.00% and -165.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 180.80%.

3 analysts offering their estimates for the company have set an average revenue estimate of $24.87 million for the current quarter. 3 have an estimated revenue figure of $36.7 million for the next quarter concluding in Dec 2022. Year-ago sales stood $27.14 million and $41.35 million respectively for this quarter and the next, and analysts expect sales will shrink by -8.40% for the current quarter and -11.20% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 25.70% over the past 5 years.

CLSK Dividends

CleanSpark Inc. is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 12.24% of the company shares, while shares held by institutions stand at 32.03% with a share float percentage of 36.50%. Investors are also buoyed by the number of investors in a company, with CleanSpark Inc. having a total of 156 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 2.69 million shares worth more than $10.56 million. As of Jun 29, 2022, Blackrock Inc. held 55.28% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 1.95 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $7.63 million and represent 39.94% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Jun 29, 2022, the former fund manager holds about 22.67% shares in the company for having 1.1 million shares of worth $4.33 million while later fund manager owns 0.98 million shares of worth $3.12 million as of Sep 29, 2022, which makes it owner of about 20.16% of company’s outstanding stock.

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