Is Cleanspark Inc’s (NASDAQ: CLSK) Stock Ready For A Price Spike?

In today’s recent session, 10.94 million shares of the Cleanspark Inc (NASDAQ:CLSK) have been traded, and its beta is 4.07. Most recently the company’s share price was $17.16, and it changed around -$1.42 or -7.64% from the last close, which brings the market valuation of the company to $3.40B. CLSK at last check was trading at a discount to its 52-week high of $24.72, offering almost -44.06% off that amount. The share price’s 52-week low was $2.38, which indicates that the recent value has risen by an impressive 86.13% since then. We note from Cleanspark Inc’s average daily trading volume that its 10-day average is 37.94 million shares, with the 3-month average coming to 36.03 million.

Cleanspark Inc (NASDAQ:CLSK) trade information

Instantly CLSK has been showing red trend so far today with a performance of -7.64% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 55.58% year-to-date, but still down -26.67% over the last five days. On the other hand, Cleanspark Inc (NASDAQ:CLSK) is -3.92% down in the 30-day period. We can see from the shorts that 23.2 million shares have been sold at a short interest cover period of 0.51 day(s).

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The consensus price target as assigned by Wall Street analysts is $14, which translates to bulls needing to decrease their stock price by -22.57% from its current value. Analyst projections state that CLSK is forecast to be at a low of $6 and a high of $22.

Cleanspark Inc (CLSK) estimates and forecasts

Cleanspark Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 350.39 percent over the past six months and at a 89.15% annual growth rate that is well above the industry average of 11.90%. The year-over-year growth rate is expected to be 156.90%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $102.87 million in revenue for the current quarter. 4 analysts expect Cleanspark Inc to make $112.43 million in revenue for the quarter ending Jun 2024.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 37.20%.

CLSK Dividends

Cleanspark Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.

Cleanspark Inc (NASDAQ:CLSK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.87% of Cleanspark Inc shares, and 44.56% of them are in the hands of institutional investors. The stock currently has a share float of 45.88%. Cleanspark Inc stock is held by 244 institutions, with Toroso Investments, LLC being the largest institutional investor. By Jun 29, 2023, it held 79.86% of the shares, which is about 3.89 million shares worth $16.7 million.

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

Vanguard Total Stock Market Index Fund and Amplify Transformational Data Sharing ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 4.0 million shares worth $17.16 million, making up 82.07% of all outstanding shares. On the other hand, Amplify Transformational Data Sharing ETF held roughly 3.89 million shares worth around $23.4 million, which represents about 79.90% of the total shares outstanding.