CleanSpark Inc. [NASDAQ:CLSK] is seeing significant action in the Technology space. CLSK stock has price per sales of 16.99. The company is also booking -4.97 earnings per share.
The tape is active for CleanSpark Inc. [CLSK] and the current price target sits at $18.00.
To add more color to this price target, CLSK’s high over the last year is $18.00 and the low is $18.00. Over the last two 52 weeks, the company is trading 8.37%, while the S&P 500 is trading 0.24%.
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Holding a Market Cap of $176.67 million, CleanSpark Inc. has seen a trading range over the last year of $0.97-$13.98.
For the last five days, CLSK is up from its last closing price. The average shares trading hands each day is 5.32M, with average 10-day volume coming in at 1.81 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for CLSK. When we apply the Elder Force Index to CleanSpark Inc., we are seeing an Elder Force Indicator number of 191362.54.
The company’s enterprise value has gone from $26.25M to $3.12M quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, CLSK made a profit of 0.55 million. CleanSpark Inc. also saw quarter revenue growth year over year of 683.36%. In addition, the company has operating cash flow of -$3.59 million.
Looking at popular technical indicators, the company’s 5-day moving average is 9.93 compared to the 50-day moving average of 9.75. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. CLSK currently holds a 9-day RSI of 56.91%, while 100-day RSI stands at 54.18%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. CLSK’s 9-day MACD is 0.67 and the company’s 100-day MACD stands at 4.98.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 30.97% by insiders and 1.33% by institutions.
Overall, the recommended rating for CLSK is Moderate Buy. Currently, the company has 1 analysts watching the stock, and the average quarterly earnings estimate is -0.27. Quarterly revenue estimates are averaging 2.14M with the high estimate reaching 2.14M and the low at 2.14M.