Cleanspark Inc (NASDAQ:CLSK) shares, rose in value, with the stock price down by -3.83% to the previous day’s close as strong demand from buyers drove the stock to $16.18.
Actively observing the price movement in the last trading, the stock closed the session at $16.83. The value of beta (5-year monthly) was 3.94. Referring to stock’s 52-week performance, its high was $24.72, and the low was $2.38. On the whole, CLSK has fluctuated by -1.73% over the past month.
With the market capitalization of Cleanspark Inc currently standing at about $3.65 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.05, which is expected to increase to $0.15 for fiscal year $0.75 and then to about $1.37 by fiscal year 2025. Data indicates that the EPS growth is expected to be 156.40% in 2025, while the next year’s EPS growth is forecast to be 82.70%.
Analysts have estimated the company’s revenue for the quarter at $102.28 million, with a low estimate of $86.92 million and a high estimate of $116 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $417.27 million, representing an increase of 147.80% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CLSK’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CLSK currently trading nearly -13.58% and 5.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 44.82, while the 7-day volatility ratio is showing 9.77% which for the 30-day chart, stands at 13.13%. Furthermore, Cleanspark Inc (CLSK)’s beta value is 4.08, and its average true range (ATR) is 2.38.
A comparison of Cleanspark Inc (CLSK) with its peers suggests the former has fared considerably weaker in the market. CLSK showed an intraday change of -3.83% in last session, and over the past year, it grew by 482.19%%.
Data on historical trading for Cleanspark Inc (NASDAQ:CLSK) indicates that the trading volumes over the past 10 days have averaged 36.3 million and over the past 3 months, they’ve averaged 36.10 million. According to company’s latest data on outstanding shares, there are 225.42 million shares outstanding.
Nearly 3.60% of Cleanspark Inc’s shares belong to company insiders and institutional investors own 38.37% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.2 million shares as on Mar 15, 2024, resulting in a short ratio of 0.51. According to the data, the short interest in Cleanspark Inc (CLSK) stood at 11.71% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 24.56 million. The stock has risen by 46.74% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CLSK stock heading into the next quarter.
