As of Monday, CleanSpark Inc.’s (NASDAQ:CLSK) stock closed at $2.80, down from $2.92 the previous day. While CleanSpark Inc. has underperformed by -4.11%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CLSK fell by -49.82%, with highs and lows ranging from $13.91 to $1.74, whereas the simple moving average fell by -31.84% in the last 200 days.
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On December 09, 2022, Cantor Fitzgerald started tracking CleanSpark Inc. (NASDAQ: CLSK) recommending Overweight. Chardan Capital Markets also rated CLSK shares as ‘Buy’, setting a target price of $12 on the company’s shares in an initiating report dated June 03, 2022. H.C. Wainwright Initiated an Buy rating on December 22, 2021, and assigned a price target of $16. BTIG Research initiated its ‘Buy’ rating for CLSK, as published in its report on March 11, 2021. H.C. Wainwright’s report from February 16, 2021 suggests a price prediction of $50 for CLSK shares, giving the stock a ‘Buy’ rating. H.C. Wainwright also rated the stock as ‘Buy’.
Analysis of CleanSpark Inc. (CLSK)
Further, the quarter-over-quarter increase in sales is 19.10%, showing a positive trend in the upcoming months.
One of the most important indicators of CleanSpark Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -14.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and CLSK is recording 3.30M average volume. On a monthly basis, the volatility of the stock is set at 10.66%, whereas on a weekly basis, it is put at 9.35%, with a loss of -1.06% over the past seven days. Furthermore, long-term investors anticipate a median target price of $8.00, showing growth from the present price of $2.80, which can serve as yet another indication of whether CLSK is worth investing in or should be passed over.
How Do You Analyze CleanSpark Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 9.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 30.50% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in CLSK shares?
The recent increase in stakes in CLSK appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in CLSK has increased by 8.78% in the first quarter. The company now owns 2,658,825 shares of the stock, with a value of $5.42 million, following the purchase of 214,575 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in CLSK during the first quarter, upping its stake by 25.09%. During the last quarter, the company picked up 454,760 additional shares for a total stake of worth $4.63 million, bringing number of shares owned by the company to 2,267,426.
During the first quarter, SSgA Funds Management, Inc. added a 5,101 position in CLSK. Geode Capital Management LLC purchased an additional 0.12 million shares in the last quarter, increasing its holdings by 14.15%, now holding 1.0 million shares worth $2.04 million. At the end of the first quarter, Goldman Sachs Asset Management LP increased its CLSK holdings by 801.74% and now holds 0.96 million CLSK shares valued at $1.95 million with the added 0.85 million shares during the period. CLSK shares are owned by institutional investors to the tune of 30.50% at present.
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