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Friday, May 27, 2022

The Rejuvenation of CleanSpark Inc. (NASDAQ:CLSK)

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CleanSpark Inc. (CLSK) shares are trading at lower $9.55 and the avg recommendation for the stock is Moderate Buy.

To add more color to this target, the company’s high over the last year is $13.98 and the low is $0.97. Over the last 52 weeks, CLSK is up 4.95% while the S&P 500 is up 10.88%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CLSK reported a profit of $0.55 million. CleanSpark Inc. also saw revenues increase to $3.44 million. In addition, CLSK has free cash flow of -$3.71 million as of 06-2020. The company’s EBITDA came in at $4.63 million which compares well with its peers.

CLSK Return on Equity (ROE) is -168.30%, and its Return on Assets is -125.40%. All told, it is clear that, CLSK needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CLSK has a short ratio of 0.34 and outstanding shares of 17.35M.

Company Outlook

CLSK has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -4.97. CleanSpark Inc. CLSK also noted assets of $20.63 million at the end of the last quarter. Investors should also keep an eye on sector updates as CLSK has historically followed its peers on positive news.

All told, CleanSpark Inc. CLSK has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CLSK represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

CleanSpark Inc. CLSK is now commanding a market cap of 169.23M and a float of 16.17M. CLSK is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CLSK stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CLSK, either long or short, and we have not been compensated for this article.

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