Investing In CleanSpark Inc. (NASDAQ: CLSK) Does Not Require High Risk Tolerance

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During the last session, CleanSpark Inc. (NASDAQ:CLSK)’s traded shares were 1.51 million, with the beta value of the company hitting 3.88. At the end of the trading day, the stock’s price was $21.85, reflecting an intraday loss of -1.18% or -$0.26. The 52-week high for the CLSK share is $42.60, that puts it down -94.97 from that peak though still a striking 64.35% gain since the share price plummeted to a 52-week low of $7.79. The company’s market capitalization is $775.89M, and the average intraday trading volume over the past 10 days was 2.18 million shares, and the average trade volume was 1.80 million shares over the past three months.

CleanSpark Inc. (CLSK) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. CLSK has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 2 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.11.

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CleanSpark Inc. (CLSK) registered a -1.18% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.18% in intraday trading to $21.85 this Wednesday, 11/03/21, hitting a weekly high. The stock’s 5-day price performance is 25.36%, and it has moved by 63.18% in 30 days. Based on these gigs, the overall price performance for the year is 153.19%. The short interest in CleanSpark Inc. (NASDAQ:CLSK) is 3.86 million shares and it means that shorts have 3.12 day(s) to cover.

The consensus price target of analysts on Wall Street is $42.50, which implies an increase of 48.59% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $35.00 and $50.00 respectively. As a result, CLSK is trading at a discount of -128.83% off the target high and -60.18% off the low.

CleanSpark Inc. (CLSK) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 191.70% this quarter and then jump 256.20% in the quarter after that. In the rating firms’ projections, revenue will increase 376.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $25.51 million as predicted by 2 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $46.5 million by the end of Dec 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.96 million and $2.83 million respectively. In this case, analysts expect current quarter sales to grow by 1,204.90% and then jump by 1,543.10% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -6.20%. While earnings are projected to return 60.90% in 2021.

CLSK Dividends

CleanSpark Inc. is due to release its next quarterly earnings between August 02 and August 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

CleanSpark Inc. (NASDAQ:CLSK)’s Major holders

CleanSpark Inc. insiders own 8.38% of total outstanding shares while institutional holders control 29.02%, with the float percentage being 31.68%. Blackrock Inc. is the largest shareholder of the company, while 118 institutions own stock in it. As of Jun 29, 2021, the company held over 2.23 million shares (or 45.72% of all shares), a total value of $37.08 million in shares.

The next largest institutional holding, with 1.73 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 35.46% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $28.76 million.

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Also, the Mutual Funds coming in first place with the largest holdings of CleanSpark Inc. (CLSK) shares are Amplify Transformational Data Sharing ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2021 indicates that Amplify Transformational Data Sharing ETF owns about 0.91 million shares. This amounts to just over 18.69 percent of the company’s overall shares, with a $10.56 million market value. The same data shows that the other fund manager holds slightly less at 0.91 million, or about 18.67% of the stock, which is worth about $15.14 million.