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These Numbers Show Favorable Signs for Cleanspark Inc (CLSK)

Cleanspark Inc (NASDAQ: CLSK) is 52.58% higher on its value in year-to-date trading and has touched a low of $2.38 and a high of $24.72 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CLSK stock was last observed hovering at around $18.58 in the last trading session, with the day’s loss setting it -1.75%.

Currently trading at $16.83, the stock is -10.05% and 11.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 29.33 million and changing -9.42% at the moment leaves the stock 104.83% off its SMA200. CLSK registered 530.34% gain for a year compared to 6-month gain of 341.73%. The firm has a 50-day simple moving average (SMA 50) of $16.80 and a 200-day simple moving average (SMA200) of $60.17.

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The stock witnessed a -5.77% loss in the last 1 month and extending the period to 3 months gives it a 52.58%, and is -28.08% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.27% over the week and 13.86% over the month.

Cleanspark Inc (CLSK) has around 131 employees, a market worth around $3.33B and $214.38M in sales. Fwd P/E is 11.54. Profit margin for the company is -38.36%. Distance from 52-week low is 607.14% and -31.92% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.05%).

Cleanspark Inc quarterly earnings per share for the current quarter are estimated at $0.05 with sales reaching $102.87M over the same period.The EPS is expected to grow by 200.03% this year, but quarterly earnings will post 156.90% year-over-year.

Cleanspark Inc (CLSK) Top Institutional Holders

244 institutions hold shares in Cleanspark Inc (CLSK), with institutional investors hold 45.88% of the company’s shares. The shares outstanding are 198.06M, and float is at 190.93M with Short Float at 12.15%. Institutions hold 44.56% of the Float.

The top institutional shareholder in the company is Toroso Investments, LLC with over 3.89 million shares valued at $16.7 million. The investor’s holdings represent 79.86% of the CLSK Shares outstanding. As of Jun 29, 2023, the second largest holder is Millennium Management Llc with 3.46 million shares valued at $14.83 million to account for 70.92% of the shares outstanding. The other top investors are Geode Capital Management, LLC which holds 2.24 million shares representing 45.92% and valued at over $9.6 million, while Renaissance Technologies, LLC holds 45.21% of the shares totaling 2.2 million with a market value of $9.45 million.

Cleanspark Inc (CLSK) Insider Activity

The most recent transaction is an insider sale by Schultz S. Matthew,the company’sExecutive Chairman. SEC filings show that Schultz S. Matthew sold 367,000 shares of the company’s common stock on Mar 27 ’24 at a price of $23.07 per share for a total of $8.47 million. Following the sale, the insider now owns 2.3 million shares.

Cleanspark Inc disclosed in a document filed with the SEC on Mar 21 ’24 that Bradford Zachary (CEO and President) sold a total of 443,000 shares of the company’s common stock. The trade occurred on Mar 21 ’24 and was made at $20.31 per share for $9.0 million. Following the transaction, the insider now directly holds 2.8 million shares of the CLSK stock.

Still, SEC filings show that on Feb 27 ’24, Schultz S. Matthew (Executive Chairman) disposed off 322,400 shares at an average price of $20.95 for $6.75 million. The insider now directly holds 2,698,768 shares of Cleanspark Inc (CLSK).

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