Perhaps because of this report, there is now a class action lawsuit against the company by litigants who claim that the company violated two provisions of the Securities Exchange Act of 1934 and one provision of the SEC. The late play by FNY in purchasing a sizable amount of stock may have helped prices rise a bit before the holidays, but the fact remains that the company has grown in the last two years.Ģ021 has started off rocky for the company as there are legal issues pending against Cleanspark. The issues started on January 14th when Culper Research put out a damaging report against the company.Ĭulper Research reported that Cleanspark was an “ insider enrichment scheme” and has “vastly overstated or simply fabricated key elements of its business”. The degree of risk with Cleanspark is noticeable as the company’s price rollercoaster 2020 may make conservative investors who just read raw data pause. this past week when it sold 61,445 shares. is slightly overvalued at current price with an average 12-month price target of $24.00. The analyst has a “buy” rating for the stock which merits a consensus “buy” rating across the board.įNY Investment Advisors LLC made a big splash in early October by snatching up over half a million shares of stock which had a market value of over $6.69 million dollars. This purchase alone made FNY the second-largest public shareholder in the company with 2.45% of total shares. FNY divested itself of 11.5% of its’ holdings in Cleanspark Inc. One Wall Street analyst surmises that Cleanspark Inc. Looking at these numbers as raw data would indicate that the company experienced a bad year, but that couldn’t be further from the truth as the company has experienced massive growth in the last couple of years. This 2020 Q4 EPS forecast is higher than the company’s actual reported 2019 4Q EPS of -$0.87. The Q4 report should be released around February 9th, 2021 and the expected forecast for the company looks to have an EPS of $-0.12. Q3 was also short by an even larger margin of 25% ($0.77 actual / $1.03 estimate) versus expected performance. Top line figures for Q3 were disappointing with the company falling short of expectations by 8% with 3.44 million dollars reported.ĮPS (Earnings Per Share) was a rollercoaster for Cleanspark with Q1 reports falling short of expectations by 24% ($0.87 actual / $1.14 estimate) and exceeding expectations by 7% ($1.13 actual / $1.06 estimate) in Q2. Revenues for the first two quarters showed the company exceeding expectations by 26% in Q1 (980K actual / 780K estimate) and 58% in Q2 (3.66M actual / 2.31M estimate). On paper, this CLSK share price rise in the last quarter was odd due to the company’s Q3 reports which showcased it underperforming in comparison to consensus estimates. was founded in 1987 and went public in 2016 after two successful acquisitions in prior years.
Microgrids are primarily used for their capabilities to run “off-grid” in cases of high energy consumption on the main grid or power outages.īased in Utah, Cleanspark Inc.
The company achieves this aim through control technology solutions that help companies and municipalities manage energy storage and load separation between main power grids and established microgrids.
#SHOULD I BUY CLEANSPARK STOCK SOFTWARE#
( NASDAQ:CLSK) is a provider of tools for distributed energy resource management systems and microgrids in the form of software controls.
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