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Is Cleanspark Inc (NASDAQ: CLSK) Stock Worth Investing In for High Returns?

In the last trading session, 89.06 million Cleanspark Inc (NASDAQ:CLSK) shares changed hands as the company’s beta touched 3.75. With the company’s per share price at $13.95 changed hands at $3.45 or 32.86% during last session, the market valuation stood at $2.74B. CLSK’s last price was a premium, traded about 2.8% off its 52-week high of $13.56. The share price had its 52-week low at $2.04, which suggests the last value was 85.38% up since then. When we look at Cleanspark Inc’s average trading volume, we note the 10-day average is 31.44 million shares, with the 3-month average coming to 3.46.

Cleanspark Inc (NASDAQ:CLSK) trade information

Instantly CLSK was in green as seen at the end of in last trading. With action 68.48%, the performance over the past five days has been green. The jump to weekly highs of 14.59 added 32.86% to the stock’s daily price. The company’s shares are showing year-to-date upside of 26.47%, with the 5-day performance at 68.48% in the green. However, in the 30-day time frame, Cleanspark Inc (NASDAQ:CLSK) is 39.71% up. Looking at the short shares, we see there were 24.42 million shares sold at short interest cover period of 1.04 days.

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Cleanspark Inc (CLSK) estimates and forecasts

Data shows that the Cleanspark Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 138.05% over the past 6 months, a 25.58% in annual growth rate that is considerably higher than the industry average of 9.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Cleanspark Inc will rise 43.50%. Year-over-year growth is forecast to reach 114.10% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $98.57 million. 4 analysts are of the opinion that Cleanspark Inc’s revenue for the quarter ending Jun 2024 will be $100.1 million.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 37.20%. The 2024 estimates are for Cleanspark Inc earnings to decrease by -308.33%.

CLSK Dividends

Cleanspark Inc is expected to release its next quarterly earnings report between May 08 and May 13.

Cleanspark Inc (NASDAQ:CLSK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.00% of Cleanspark Inc shares while 37.76% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.93%. There are 37.76% institutions holding the Cleanspark Inc stock share, with Toroso Investments, LLC the top institutional holder. As of Jun 29, 2023, the company held 79.86% of the shares, roughly 3.89 million CLSK shares worth $16.7 million.

Millennium Management Llc holds the second largest percentage of outstanding shares, with 70.92% or 3.46 million shares worth $14.83 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Amplify Transformational Data Sharing ETF. With 4.0 million shares estimated at $17.16 million under it, the former controlled 82.07% of total outstanding shares. On the other hand, Amplify Transformational Data Sharing ETF held about 79.90% of the shares, roughly 3.89 million shares worth around $23.4 million.

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