The trading price of Cleanspark Inc (NASDAQ:CLSK) closed lower on Thursday, March 29, closing at $21.21, -8.22% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $24.72 and a 52-week low of $2.38. Over the past month, the stock has gained 17.31% in value.
Cleanspark Inc, whose market valuation is $4.20 billion at the time of this writing, is expected to release its quarterly earnings report May 08, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.05 per share this quarter, however they have predicted annual earnings per share of $0.75 for 2024 and $1.37 for 2025. It means analysts are expecting annual earnings per share growth of 156.40% this year and 82.70% next year.
Analysts have forecast the company to bring in revenue of $102.87 million for the current quarter, with the likely lows of $86.92 million and highs of $116 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $432.67 million. The company’s revenue is forecast to grow by 156.90% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cleanspark Inc 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CLSK has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
A quick review shows that CLSK’s price is currently 14.96% off the SMA20 and 45.64% off the SMA50. The RSI metric on the 14-day chart is currently showing 58.07, and weekly volatility stands at 11.80%. When measured over the past 30 days, the indicator reaches 14.78%. Cleanspark Inc (NASDAQ:CLSK)’s beta value is currently sitting at 3.98, while the Average True Range indicator is currently displaying 2.52.
To see how Cleanspark Inc stock has been performing in comparison to its peers in the industry, here are the numbers: CLSK stock’s performance was -8.22% in the latest trading, and 746.71% in the past year.
An evaluation of the daily trading volume of Cleanspark Inc (NASDAQ:CLSK) indicates that the 3-month average is 35.72 million. However, this figure has increased over the past 10 days to an average of 38.79 million.
Currently, records show that 198.06 million of the company’s shares remain outstanding. The insiders hold 3.81% of outstanding shares, whereas institutions hold 43.62%. The stats also highlight that short interest as of Mar 15, 2024, stood at 23.2 million shares, resulting in a short ratio of 0.51 at that time. From this, we can conclude that short interest is 11.71% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 24.56 million. However, since the stock’s price has seen 92.29% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
