This shows that the stock is still experiencing a negative price trend. Moreover, the stock has a poor timing score with an RT rating of 0.58. The RS rating of 0.65 is poor – suggesting an inconsistency and unpredictability in the company’s financial performance. However, that’s really where the good news ends. Moreover, our system shows that CLSK is currently undervalued. This shows the long-term price appreciation potential a stock has – projected up to three years out. So – what’s the deal with CleanSpark?įirst and foremost, it has excellent upside potential with an RV rating of 1.41. Together, these three ratings make up the overall VST rating a stock is given. These are displayed on a scale of 0.00-2.00 – with 1.00 being the average. These are Relative Value (RV), Relative Safety (RS), and Relative Timing (RT). The VectorVest system compiles fundamental and technical analysis into three simple ratings that determine whether a stock is rated a buy, sell, or hold. Our stock forecasting software provides investors like you with a simple, emotionless approach to picking and trading stocks. Is CLSK’s Excellent Upside Potential Enough to Earn a Buy Rating? It would appear that a trend is forming – so, is now the time to buy CleanSpark? Let’s take a look at what our stock forecasting system shows… Whatever the case, investors are seeing a few days in a row of growth for this stock. It’s safe to say they’ve accomplished this goal – though it remains to be seen how the remainder of the year will treat the bitcoin market as a whole, and CLSK as a company. Bradford states that their goal was to become a top-five publicly traded Bitcoin mining company. Their hash rate (a measure of the computing power on a cryptocurrency network) has more than tripled over the past year, and according to CEO Zach Bradford, the company as a whole is right on track to achieve its goals – despite a brutal year for the cryptocurrency market as a whole. The company was able to mine 395 Bitcoins in the period – up 109% from the same period a year ago. This morning, CLSK was up almost 5% after news of a mining update for the month of August. However, it appears that a reversal may be on the horizon – or at least, a means for stopping the bleeding. CleanSpark (CLSK) has suffered greater losses this year than Bitcoin itself – down 70% in the past year. And while they certainly benefited from the peaks of Bitcoin, they’re currently battling through one of its valleys. More specifically, they focus on solving modern energy challenges through advanced software. And when you take a similar glance at companies that operate in the crypto space – such as CleanSpark – you’ll see the same trend.ĬleanSpark is a company that focuses on sustainable Bitcoin mining. While the cryptocurrency reached almost $70k back in November of 2021, bitcoin is down almost 60% over the past year. When looking at a chart for bitcoin over the past year, you’ll see a steady fall that’s gotten us to where we are now.
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