Is CleanSpark Inc. (NASDAQ: CLSK) A Great Stock To Invest In?

CleanSpark Inc. (NASDAQ:CLSK) traded at $7.69 at last check on Monday, January 10, made a downward move of -5.53% on its previous day’s price.

Looking at the stock we see that its previous close was $8.14 and the beta (5Y monthly) reads 3.70 with the day’s price range being $7.97 – $8.50. In terms of its 52-week price range, CLSK has a high of $42.60 and a low of $7.90. The company’s stock has lost about -44.74% over that past 30 days.

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CleanSpark Inc. has a market cap of $344.00 million and is expected to release its quarterly earnings report on Feb 10, 2022 – Feb 14, 2022. Estimates by analysts give the company expected earnings per share (EPS) of $0.31, with the EPS growth for the year raised at $1.14 for 2022 and $2.69 for next year. These figures represent 252.00% and 136.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $41.35 million, with a low of $39.1 million and a high of $43.6 million. The median projection represents growth squeezing down to 1,361.10% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $199.9 million, or 304.30% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CLSK stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 2 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the CleanSpark Inc. (CLSK) stock as a Hold, while 2 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is -28.74% off its SMA20 and -50.25% from its 50-day simple moving average. The RSI (14) is pointing at 23.92 while the volatility over the past week is 8.50% and jumps to 9.41% over the past one month. The beta value is 3.82, while the average true range (ATR) is currently pointing at 1.13. The average price target for the stock over the next 12 months is $25.50, with the estimates having a low of $16.00 and a high of $35.00. These price ends are -108.06% and -355.14% off the today’s price level respectively, although investors could be excited at the prospect of a -231.6% if the CLSK share price touches on the median price of $25.50.

Coming back to CleanSpark Inc. (NASDAQ:CLSK), we note that the average 3-month trading volume was 1.93 million. Current shares outstanding are 41.45 million.

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The insiders hold 2.50% of the company’s shares while institutions hold 28.20%. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -14.50% down in year-to-date price movement.