Cleanspark Inc (NASDAQ: CLSK) Loses -59.02% From High. Why That Could Change?

Currently, there are 253.14M common shares owned by the public and among those 244.79M shares have been available to trade.

The company’s stock has a 5-day price change of 12.68% and -36.49% over the past three months. CLSK shares are trading -8.16% year to date (YTD), with the 12-month market performance up to 173.78% 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 25.22 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 9.35%, -14.54%, and -29.02% respectively.

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Institutional ownership of Cleanspark Inc (NASDAQ: CLSK) shares accounts for 41.08% of the company’s 253.14M shares outstanding.

It has a market capitalization of $2.56B and a beta (3y monthly) value of 4.19. The earnings-per-share (ttm) stands at -$0.78. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.44% over the week and 7.03% over the month.

Earnings per share for the fiscal year are expected to decrease by -378.53%, and 126.00% over the next financial year.

Looking at the support for the CLSK, a number of firms have released research notes about the stock. Macquarie stated their Outperform rating for the stock in a research note on September 25, 2024, with the firm’s price target at $20. JP Morgan coverage for the Cleanspark Inc (CLSK) stock in a research note released on December 08, 2023 offered a Neutral rating with a price target of $8. Bernstein was of a view on October 31, 2023 that the stock is Outperform, while JP Morgan gave the stock Overweight rating on October 11, 2023, issuing a price target of $5.50. Cantor Fitzgerald on their part issued Overweight rating on December 09, 2022.

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