In yesterday’s Wall Street session, Cleanspark Inc (NASDAQ:CLSK) shares traded at $15.36, down -1.54% from the previous session.
CLSK stock price is now -2.80% away from the 50-day moving average and 81.59% away from the 200-day moving average. The market capitalization of the company currently stands at $3.46B.
With the price target reduced from $9 to $8, JP Morgan Downgraded its rating from Overweight to Neutral for Cleanspark Inc (NASDAQ: CLSK). On October 31, 2023, Bernstein recently initiated its ‘Outperform’ rating on the stock quoting a target price of $5.30, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Schultz S. Matthew, Executive Chairman sold 367,000 shares of the company’s stock on Mar 27 ’24. The stock was sold for $8,466,690 at an average price of $23.07. Upon completion of the transaction, the Executive Chairman now directly owns 2,298,975 shares in the company, valued at $35.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 21 ’24, CEO and President Bradford Zachary sold 443,000 shares of the business’s stock. A total of $8,997,330 was realized by selling the stock at an average price of $20.31. This leaves the insider owning 2,795,863 shares of the company worth $42.94 million. A total of 3.60% of the company’s stock is owned by insiders.
During the past 12 months, Cleanspark Inc has had a low of $2.38 and a high of $24.72. As of last week, the company has a debt-to-equity ratio of 0.02, a current ratio of 4.29, and a quick ratio of 4.27. The fifty day moving average price for CLSK is $15.96 and a two-hundred day moving average price translates $8.51 for the stock.
The latest earnings results from Cleanspark Inc (NASDAQ: CLSK) was released for Dec, 2023. According to the Capital Markets Company, earnings per share came in at $0.14, beating analysts’ expectations of -$0.24 by 0.38. This compares to $0.02 EPS in the same period last year. The net profit margin was -38.36% and return on equity was -12.24% for CLSK. The company reported revenue of $73.79 million for the quarter, compared to $27.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 165.24 percent. For the current quarter, analysts expect CLSK to generate $102.28M in revenue.
