CleanSpark Inc. [NASDAQ: CLSK] gained 3.69% on the last trading session, reaching $14.32 price per share at the time. The company report on September 27, 2021 that CleanSpark Transitions Over One Exahash of Sustainable Bitcoin Mining Power to Foundry USA Pool.
100% of CleanSpark’s Hashrate is Now Live on Foundry USA Pool, With Plans to Triple By Fall 2022.
CleanSpark, Inc. (Nasdaq: CLSK) (the “Company” or “CleanSpark”), a sustainable bitcoin mining and diversified energy company, and Foundry Digital LLC (“Foundry”), a wholly-owned subsidiary of Digital Currency Group, Inc. (“DCG”) focused on digital asset mining and staking, jointly announced that CleanSpark has transitioned all of its bitcoin mining power to Foundry USA Pool.
CleanSpark Inc. represents 34.01 million in outstanding shares, while the company has a total market value of $483.44 million with the latest information. CLSK stock price has been found in the range of $13.71 to $14.5599.
If compared to the average trading volume of 1.55M shares, CLSK reached a trading volume of 1597849 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about CleanSpark Inc. [CLSK]:
BTIG Research have made an estimate for CleanSpark Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 11, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $24 to $50. The new note on the price target was released on February 16, 2021, representing the official price target for CleanSpark Inc. stock. Previously, the target price had yet another raise from $18 to $24, while H.C. Wainwright kept a Buy rating on CLSK stock.
The Average True Range (ATR) for CleanSpark Inc. is set at 0.96, with the Price to Sales ratio for CLSK stock in the period of the last 12 months amounting to 19.98. The Price to Book ratio for the last quarter was 1.73, with the Price to Cash per share for the same quarter was set at 0.67.
Trading performance analysis for CLSK stock
CleanSpark Inc. [CLSK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.29. With this latest performance, CLSK shares gained by 6.15% in over the last four-week period, additionally sinking by -30.45% over the last 6 months – not to mention a rise of 40.94% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CLSK stock in for the last two-week period is set at 62.13, with the RSI for the last a single of trading hit 70.22, and the three-weeks RSI is set at 57.07 for CleanSpark Inc. [CLSK]. The present Moving Average for the last 50 days of trading for this stock 12.98, while it was recorded at 13.44 for the last single week of trading, and 19.91 for the last 200 days.
CleanSpark Inc. [CLSK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and CleanSpark Inc. [CLSK] shares currently have an operating margin of -151.00 and a Gross Margin at -75.07. CleanSpark Inc.’s Net Margin is presently recorded at -232.79.
Return on Total Capital for CLSK is now -77.66, given the latest momentum, and Return on Invested Capital for the company is -120.06. Return on Equity for this stock declined to -132.23, with Return on Assets sitting at -102.01. When it comes to the capital structure of this company, CleanSpark Inc. [CLSK] has a Total Debt to Total Equity ratio set at 3.49. Additionally, CLSK Total Debt to Total Capital is recorded at 3.37, with Total Debt to Total Assets ending up at 2.56. Long-Term Debt to Equity for the company is recorded at 3.23, with the Long-Term Debt to Total Capital now at 3.12.
Reflecting on the efficiency of the workforce at the company, CleanSpark Inc. [CLSK] managed to generate an average of -$376,551 per employee. Receivables Turnover for the company is 10.63 with a Total Asset Turnover recorded at a value of 0.44.CleanSpark Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.40.
An analysis of insider ownership at CleanSpark Inc. [CLSK]
There are presently around $148 million, or 28.80% of CLSK stock, in the hands of institutional investors. The top three institutional holders of CLSK stocks are: BLACKROCK INC. with ownership of 2,228,271, which is approximately 316.222% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 1,728,340 shares of the stock with an approximate value of $24.75 million in CLSK stocks shares; and TOROSO INVESTMENTS, LLC, currently with $21.45 million in CLSK stock with ownership of nearly 79.112% of the company’s market capitalization.
Positions in CleanSpark Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 56 institutional holders increased their position in CleanSpark Inc. [NASDAQ:CLSK] by around 4,859,010 shares. Additionally, 39 investors decreased positions by around 1,868,643 shares, while 11 investors held positions by with 3,625,871 shares. The mentioned changes placed institutional holdings at 10,353,524 shares, according to the latest SEC report filing. CLSK stock had 33 new institutional investments in for a total of 763,486 shares, while 21 institutional investors sold positions of 1,179,520 shares during the same period.