In yesterday’s Wall Street session, Cleanspark Inc (NASDAQ:CLSK) shares traded at $9.07, down -3.30% from the previous session.
CLSK stock price is now -31.21% away from the 50-day moving average and -36.24% away from the 200-day moving average. The market capitalization of the company currently stands at $2.30B.
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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, Wood Thomas Leigh, Director sold 22,222 shares of the company’s stock on Sep 12 ’24. The stock was sold for $205,331 at an average price of $9.24. Upon completion of the transaction, the Director now directly owns 137,050 shares in the company, valued at $1.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12 ’24, Director Wood Thomas Leigh bought 22,222 shares of the business’s stock. A total of $205,322 was incurred on buying the stock at an average price of $9.24. A total of 2.72% of the company’s stock is owned by insiders.
During the past 12 months, Cleanspark Inc has had a low of $3.38 and a high of $24.72. As of last week, the company has a debt-to-equity ratio of 0.01, a current ratio of 8.94, and a quick ratio of 8.94. The fifty day moving average price for CLSK is $13.0449 and a two-hundred day moving average price translates $14.2376 for the stock.
The latest earnings results from Cleanspark Inc (NASDAQ: CLSK) was released for 2024-06-30. The net profit margin was -47.31% and return on equity was -15.25% for CLSK. The company reported revenue of $104.11 million for the quarter, compared to $45.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 128.69 percent.
