CLSK traded as high as $42.60 in January of 2021 has now corrected more than 50%. The news however, (below) keeps getting better and better.
*CLSK entered the Crypto Mining business in December of 2020 that that caused the spike in the share price to $42.60 from $7.50 in November 2020.
*Link to Finviz numbers Forward P/E ratio of 7.6 – modest # of shares issued at 22 million.
*Two brokers have recent price targets above $45.00 on the shares (linked here). That fits our goal of 100% appreciation potential in twelve months.
*Technically, the stock price is about to cross above both the 150-day and 21-day Moving Averages.
Website Linked Here
LOTM NOTE: March 15, 2021 CLSK did a 9 million share, $200 million secondary offering at $22 per share. You can buy the stock under the recent offering price. Based on the chart and what is going on at the company, we think it is an opportunity. We suggest a buying limit up to $22.00. We suggest this for each investment style: Trading, Investing & Speculation.
CleanSpark’s microgrid contracts increased 220% to over $23.5M
Apr. 19, 2021 By: Akanksha Bakshi, Seeking Alpha News
- CleanSpark (CLSK -2.5%) announced that backlog YTD of executed contracts has grown to over $23.5M (+220%) from $7.3M, as most recently announced on February 12, 2021.
- Backlog: ~$14.3M relates to residential microgrid and energy storage initiatives; ~$4.6M to commercial and industrial microgrid and switchgear offerings; ~$4M relates to international microgrid development contracts; and ~$0.6M relates to the P2K software and services business.
- Company produced more than 144 Bitcoins and has produced 205 Bitcoins since acquiring its mining operations on December 10, 2020.
- Total hashrate capacity is expected to increase to over 1.1 EH/s by August 2021 and exceed 3.2EH by September 2022.
Select Crypto Miners for Comps:
TIPRANKS: Analyst Price Target on CLSK (link)
$47.50▲ (138.57% Upside)
Based on 2 analysts offering 12-month price targets for Cleanspark in the last 3 months. The average price target is $47.50 with a high forecast of $50.00 and a low forecast of $45.00. The average price target represents a 138.57% increase from the last price of $19.91.
An account related to LOTM owns & bought shares of CLSK on Friday April 23, 2021
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* An account related to LOTM holds a position in this security.
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