Last Updated: 14 Sep 2024
Executive Summary
CleanSpark Inc. (CLSK) is a provider of energy software and control technology solutions. The company has a market capitalization of $2.37 billion and is headquartered in Woods Cross, Utah. CLSK reported a loss per share of $0.99 in its latest quarter, with a revenue growth of 1.287% year-over-year. The stock is currently trading at $9.38, below its 52-week high of $24.72.
Company Overview
CleanSpark provides a range of energy solutions, including software, controls, and hardware. The company's software platform, mPulse, is used to optimize energy consumption and reduce costs. CleanSpark also offers a range of energy storage solutions, including batteries and microgrids.
Fundamental Analysis
CLSK has a trailing price-to-sales ratio of 6.94, which is higher than the industry average of 2.46. The company's forward price-to-earnings ratio is 104.17, which is also higher than the industry average of 19.11. This indicates that CLSK is currently trading at a premium to its peers.
CLSK's revenue has grown at a compound annual growth rate (CAGR) of 11.2% over the past three years. However, the company's profitability has been volatile, with a net loss of $10.3 million in the past twelve months.
Technical Analysis
CLSK's stock price has been in a downtrend since reaching a high of $24.72 in January 2023. The stock is currently trading below its 50-day and 200-day moving averages, which indicates a bearish trend. The stock's relative strength index (RSI) is also below 50, which indicates that the stock is oversold.
Short Term Outlook
In the short term, CLSK's stock price is likely to remain under pressure. The stock is trading below its moving averages and is oversold. The company's profitability is also a concern.
Long Term Outlook
In the long term, CLSK's prospects are more positive. The company's energy solutions are in high demand as the world transitions to a clean energy economy. CleanSpark is also well-positioned to benefit from the growing demand for energy storage solutions.
Analyst Recommendations
Analysts are mixed on CLSK's stock. Two analysts have a strong buy rating, three have a buy rating, and one has a hold rating. The average analyst target price is $25.6, which represents a potential upside of 172.5% from the current price.
