In What Direction Will CleanSpark Inc.’s (NASDAQ:CLSK) Stock Goes From Here?

The closing price of CleanSpark Inc. (NASDAQ: CLSK) was $2.29 for the day, down -5.76% from the previous closing price of $2.43. In other words, the price has decreased by -$0.1400 from its previous closing price. On the day, 3862716 shares were traded. CLSK stock price reached its highest trading level at $2.4400 during the session, while it also had its lowest trading level at $2.2150.

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Our analysis of CLSK’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 0.50 and its Current Ratio is at 0.50. In the meantime, Its Debt-to-Equity ratio is 0.05 whereas as Long-Term Debt/Eq ratio is at 0.03.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Cantor Fitzgerald on December 09, 2022, initiated with a Overweight rating and assigned the stock a target price of $5.

On June 03, 2022, Chardan Capital Markets started tracking the stock assigning a Buy rating and target price of $12.Chardan Capital Markets initiated its Buy rating on June 03, 2022, with a $12 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Dec 16 when Vecchiarelli Gary Anthony bought 19,400 shares for $1.78 per share. The transaction valued at 34,532 led to the insider holds 147,157 shares of the business.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 1.50 while its Price-to-Book (P/B) ratio in mrq is 0.36.

Stock Price History:

Over the past 52 weeks, CLSK has reached a high of $13.91, while it has fallen to a 52-week low of $1.74. The 50-Day Moving Average of the stock is 2.7670, while the 200-Day Moving Average is calculated to be 3.4597.

Shares Statistics:

CLSK traded an average of 3.93M shares per day over the past three months and 3.88M shares per day over the past ten days. A total of 66.39M shares are outstanding, with a floating share count of 40.97M. Insiders hold about 9.30% of the company’s shares, while institutions hold 30.50% stake in the company. Shares short for CLSK as of Jan 12, 2023 were 7.39M with a Short Ratio of 4.88M, compared to 9.39M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 10.31% and a Short% of Float of 10.54%.

Earnings Estimates

The firm’s stock currently is rated by 3 analysts. On average, analysts expect EPS of -$0.54 for the current quarter, with a high estimate of -$0.31 and a low estimate of -$0.69, while EPS last year was $0. The consensus estimate for the next quarter is -$0.48, with high estimates of -$0.19 and low estimates of -$0.79.

Analysts are recommending an EPS of between -$1.05 and -$3.12 for the fiscal current year, implying an average EPS of -$2.13. EPS for the following year is -$1.39, with 2 analysts recommending between -$0.34 and -$2.44.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 4 analysts. It ranges from a high estimate of $44.9M to a low estimate of $36.9M. As of the current estimate, CleanSpark Inc.’s year-ago sales were $41.64M, an estimated decrease of -0.90% from the year-ago figure. For the next quarter, 4 analysts are estimating revenue of $59.61M, an increase of 92.10% over than the figure of -$0.90% in the same quarter last year. There is a high estimate of $67.5M for the next quarter, whereas the lowest estimate is $51.9M.

A total of 4 analysts have provided revenue estimates for CLSK’s current fiscal year. The highest revenue estimate was $228.8M, while the lowest revenue estimate was $186.4M, resulting in an average revenue estimate of $208.06M. In the same quarter a year ago, actual revenue was $131.52M, up 58.20% from the average estimate. Based on 2 analysts’ estimates, the company’s revenue will be $353.54M in the next fiscal year. The high estimate is $415.89M and the low estimate is $291.2M. The average revenue growth estimate for next year is up 69.90% from the average revenue estimate for this year.