These 2 Stocks Seize Spotlight: Quidel Corporation (QDEL), CleanSpark Inc. (CLSK)

Quidel Corporation (NASDAQ: QDEL) shares are 134.52% up in the year-to-date (YTD) period and have moved 7.97% or $12.99 higher in the latest trading session. However, stock’s trailing 12-month performance remains nearly +144.73% lower. Comparatively, the stock is -42.63% down YTD and 4.37% over the trailing 3-month period. If we look at the shorter duration, its week performance is -22.90% and -37.71% over the month.

Analyst Recommendations

On March 26, 2020, Barclays recommended the QDEL stock is a Equal Weight, while earlier, JP Morgan had Downgrade the stock as a Underweight on May 12, 2020. 6 analysts offering the recommendations for the stock have a consensus rating of 2.50 to suggest that the QDEL stock is a “Moderate Buy. 1 of the 6 analysts rate the stock as a “Sell”, while 0 has rated it as “Underweight”. 3 recommend buying, with 0 rating it as an Overweight.

The stock currently trades at $175.96 and analysts tracking its performance over the next 12 months have a consensus estimate price target of $264.75. The forecasts give the Quidel Corporation stock a price target range of $363.00 on the higher side while at least one analyst think the stock could plunge to a low of $160.00. The two limits represent an upside potential of 51.53% or -9.98%.

Earnings Forecast

Analysts estimate the earnings to increase 70.60% in the current quarter to $4.06, up from the $0.7 reported in the same quarter a year ago. For the current year, earnings should grow to an average of $11.99, up 129.50% from $2.97 reported last year. Analysts also offered guidance for the next financial quarter, with their average projected EPS at between $4.04 and $6.23. Wall Street estimates earnings per share to be at an average of $15.62 for the next year.

Insider Transactions Summary

According to SEC data, total insider shares purchases at the company stands at 70 over the last 12 months, while SEC filings reveal that there have been 51 insider sales over the same period. Insiders have purchases 729,012 shares while those sold by company executives and officers stand at 621,022. The last 3 months have seen insiders trade a total of 50,658 and 39,230 in purchases and sales respectively.

Abney Michael Donald Jr., a SVP – Distribution at the company, sold 5,610 shares worth $1.4 million at $250.00 per share on Aug 19. The SVP – Distribution had earlier sold another 2,582 QDEL shares valued at $0.65 million on Aug 20. The shares were sold at $250.00 per share. BRYANT DOUGLAS C (President & CEO) bought 5,000 shares at $234.12 per share on Aug 11 for a total of $1.17 million while Michael Edward L., (Director) bought 3,500 shares on Aug 03 for $1.01 million with each share fetching $288.12.

CleanSpark Inc. (NASDAQ:CLSK), on the other hand, is trading around $10.08 with a market cap of $182.35M and analyst research firms have a positive stance on its shares. Some analysts are even forecasting -$2.58 per share in earnings this year on a short term (1 year) basis.

Let us briefly look at the CleanSpark Inc. (CLSK) financials, with a focus on its operating details as indicated in its earnings report for the last quarter.

Company balance sheet and cash flow

CLSK’s operating expenses over the recent quarter were at $3.58 million. This represented a -4.16% of the company’s total revenues which amounted $3.44 million. With this in place, we can see that the company’s diluted EPS declined -$0.77 on the year-over-year period, shrinking to -$0.90 as given in the last earnings report.

In terms of the balance sheet & cash flow as of (Sep 2020), the total assets figure advanced to $20.63 million from $22.49 million over the previous quarter. Short term investments amounted to $0.91 million while total current assets were at $7.22 million. The cash flow from operating activities totaled -$3.68 million, significantly higher than the -$5.79 million reported in the year-ago quarter. The company’s free cash flow for the quarter was -$3.71 million.

Insider activity

Insiders have transacted a total of 4 times at CleanSpark Inc. over the last 6 months, with insider purchases undertaken 4 times and accounting for 25,019 shares. Insider sales totaled 0 shares over the same period, with these deals completed in 0 transactions. Looking at these numbers, we realize that net purchases over that period are 4.0 shares. Insiders now hold a total of 5.38M shares after the latest sales, with 0.50% net shares purchased.

Major holders

Insiders own 0.10% of the company shares, while shares held by institutions stand at 0.80% with a share float percentage of 16.17M. Investors are also buoyed by the number of investors in a company, with CleanSpark Inc. having a total of 1 institutions that hold shares in the company.