CleanSpark Outlook: Mixed Signals Amid Volatility

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1. Market Snapshot

Headline takeaway: CleanSpark (CLSK.O) faces a weak technical outlook with a bearish bias, but fundamental factors remain mixed with an internal diagnostic score of 4.83. The stock has risen 3.13% recently, though analyst expectations do not fully align with this price action.

2. News Highlights

• Trump fast-tracks Utah uranium mine: This could benefit energy and mining-related stocks, though CleanSpark is not directly tied to uranium. However, a broader industry revival is being held back by low prices, making this news more of a long-term watch item.
• REX Shares files for Ethereum and Solana ETFs: These filings could signal a shift in how crypto is treated in financial markets. While CleanSpark is not a crypto company, rising institutional interest in crypto could influence broader tech and energy stock sentiment.
• China’s factory activity slows but shows signs of improvement: Global trade dynamics are shifting as U.S.-China trade tensions ease slightly. This could indirectly benefit CleanSpark if it leads to more stable supply chains and energy demand.

3. Analyst Views & Fundamentals

Analyst Scores:

• Average rating score (simple mean): 4.67
• Weighted rating score (performance-weighted): 2.35
• Rating consistency: Analysts are divided, with four "Strong Buy" and two "Buy" ratings, but historical performance reveals stark differences in predictive accuracy.
• Price alignment: The stock has risen 3.13%, but analyst expectations are mixed. A mismatch suggests caution for investors relying on consensus signals.

Key Fundamental Factor Values:

• Return on Equity (diluted) (YoY growth rate): 17.45%
• Profit-MV: 1.496
• Rate of return on total assets: 15.96%
• Inventory turnover days: 372.20 days
• Asset-MV: -0.371
• Cash-MV: 0.422

CleanSpark’s internal diagnostic fundamental score of 4.83 reflects positive momentum in profitability and asset return, but the long inventory turnover days and weak Asset-MV suggest operational challenges.

4. Money-Flow Trends

CleanSpark’s fund-flow score is 7.83 (good), but the overall trend remains negative. Large investors (block inflow) and institutional players are pulling back, with a block inflow ratio of 0.493 and an overall inflow ratio of 0.495. This suggests a bearish sentiment at the institutional level. Retail flows are also mixed, with small and medium-sized investors showing a slight positive tilt but not enough to offset the broader trend.

5. Key Technical Signals

CleanSpark’s technical analysis score is 3.85, reflecting a weak outlook with more bearish indicators than bullish ones. The stock has three bearish and one neutral signal in the last five days:

• Three Black Crows: Internal diagnostic score 3.47 — bearish signal indicating a potential reversal after a small uptrend.
• WR Oversold: Internal diagnostic score 3.45 — suggests overbought conditions, but this has historically yielded mixed results.
• Long Upper Shadow: Internal diagnostic score 2.52 — a sign of indecision in the market, with buyers entering but not sustaining the rally.
• MACD Death Cross: Internal diagnostic score 5.94 — a bullish bias despite the broader bearish trend, indicating a possible short-term rebound if momentum shifts.

Recent chart patterns: The last five days have seen repeated appearances of the “Long Upper Shadow” and “WR Oversold” indicators, particularly on December 16 and 17, 2025. This suggests a volatile and indecisive market with no clear direction.

Key insight: Bearish signals dominate (3 vs. 0 bullish), and the overall momentum is weak. Traders are advised to avoid or hedge long positions in the near term.

6. Conclusion

CleanSpark is caught in a crosscurrent of mixed signals. The fundamentals show potential, with a solid ROE and asset return, but the technical outlook is bearish, and institutional money is flowing out. The stock has risen recently but is facing a weak trend with no clear direction.

Actionable takeaway: Consider waiting for a clearer technical signal or a pull-back before entering long positions. Keep an eye on upcoming industry news and earnings, as these could tip the balance in either direction.