Is CleanSpark Inc. (NASDAQ: CLSK) Back In The Buying Zone?

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    Susquehanna Investment Group LLC recently announced the acquisition of new stake in CleanSpark Inc. (NASDAQ:CLSK). This fresh investment now brings its stake to 0.14% valued currently at $0.17 million. In addition, Schonfeld Strategic Advisors LLC raised its holdings by 21500.0 to 21500.0 shares.

    With over 2.61 million CleanSpark Inc. (CLSK) shares trading Friday and a closing price of $12.18 on the day, the dollar volume was approximately $31.8 million. The shares have shown a positive weekly performance of 7.60% and its price on 08/21/20 gained nearly 1.33%. Currently, there are 17.35M common shares owned by the public and among those 16.17M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for CLSK have a consensus price objective of $18.00. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $18.00 should the stock experience a downside. Incidentally, analysts’ outlook for the CleanSpark Inc. stock is 2.00 for the next 12 months. The average price target is 32.33% above its last price level and an upside to the estimated low will see the stock gain 32.33% over that period. But an upside of 32.33% will see the stock hit the forecast high price target while mean target price for the stock is $18.00.

    Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 120,718 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.

    Vanguard Extended Market Index Fu owns 19924.0 shares of the company’s stock, all valued at over $0.14 million. The company bought an additional 19924.0 shares recently to bring their total holdings to about 0.12% of the shares outstanding.

    Shares of CleanSpark Inc. (NASDAQ: CLSK) opened at $12.12, up $0.1 from a prior closing price of $12.02. However, the script later closed the day at $12.18, up 1.33%. The company’s stock has a 5-day price change of 7.60% and 471.83% over the past three months. CLSK shares are trading 127.66% year to date (YTD), with the 12-month market performance up to 23.03% higher. It has a 12-month low price of $0.97 and touched a high of $13.98 over the same period. Currently, 2.61 million shares have been traded, compared to an average intraday trading volume of 5.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 36.09%, 127.02%, and 194.69% respectively.

    Institutional ownership of CleanSpark Inc. (NASDAQ: CLSK) shares accounts for 0.80% of the company’s 17.35M shares outstanding. Mutual fund holders own 0.70%, while other institutional holders and individual stakeholders account for 2.34% and 0.12% respectively.

    It has a market capitalization of $208.64M and a beta (3y monthly) value of 2.88. The earnings-per-share (ttm) stands at -$4.97. The company has a debt-to-equity ratio at 0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.69% over the week and 17.05% over the month.

    Analysts forecast that CleanSpark Inc. (CLSK) will achieve an EPS of -$0.27 for the current quarter, $0 for the next quarter and -$0.5 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.27 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$2.75 a year ago. Earnings per share for the fiscal year are expected to increase by 54.10%, and 80.60% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate CleanSpark Inc. (CLSK) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

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