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

Currently, there are 227.87M common shares owned by the public and among those 220.35M shares have been available to trade.

The company’s stock has a 5-day price change of -3.76% and -16.75% over the past three months. CLSK shares are trading 56.75% year to date (YTD), with the 12-month market performance up to 261.72% higher. It has a 12-month low price of $3.38 and touched a high of $24.72 over the same period. CLSK has an average intraday trading volume of 31.01 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 0.86%, 2.12%, and 51.62% respectively.

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Institutional ownership of Cleanspark Inc (NASDAQ: CLSK) shares accounts for 43.89% of the company’s 227.87M shares outstanding.

It has a market capitalization of $3.94B and a beta (3y monthly) value of 4.27. The stock’s trailing 12-month PE ratio is 130.00, while the earnings-per-share (ttm) stands at $0.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.84% over the week and 9.61% over the month.

Earnings per share for the fiscal year are expected to increase by 321.43%, and -85.99% over the next financial year.

Looking at the support for the CLSK, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 08, 2023, with the firm’s price target at $9-$8. Bernstein coverage for the Cleanspark Inc (CLSK) stock in a research note released on October 31, 2023 offered a Outperform rating with a price target of $5.30. JP Morgan was of a view on October 11, 2023 that the stock is Overweight, while Cantor Fitzgerald gave the stock Overweight rating on December 09, 2022, issuing a price target of $5. H.C. Wainwright on their part issued Buy rating on July 26, 2022.

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