Covanta (NYSE:CVA) vs. CleanSpark (NYSE:CLSKD) Critical Review
Covanta (NYSE:CVA) and CleanSpark (OTCMKTS:CLSKD) are both oils/energy companies, but which is the superior business? We will compare the two companies based on the strength of their risk, valuation, earnings, dividends, institutional ownership, profitability and analyst recommendations.
Insider & Institutional Ownership
78.8% of Covanta shares are held by institutional investors. 11.0% of Covanta shares are held by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.
This table compares Covanta and CleanSpark’s top-line revenue, earnings per share (EPS) and valuation.
|Gross Revenue||Price/Sales Ratio||Net Income||Earnings Per Share||Price/Earnings Ratio|
|Covanta||$1.87 billion||1.07||$152.00 million||($0.10)||-152.25|
|CleanSpark||$4.53 million||5.39||-$26.12 million||N/A||N/A|
Covanta has higher revenue and earnings than CleanSpark.
This is a summary of current ratings and price targets for Covanta and CleanSpark, as provided by MarketBeat.
|Sell Ratings||Hold Ratings||Buy Ratings||Strong Buy Ratings||Rating Score|
Covanta currently has a consensus target price of $17.40, suggesting a potential upside of 14.29%. CleanSpark has a consensus target price of $18.00, suggesting a potential upside of 252.57%. Given CleanSpark’s stronger consensus rating and higher possible upside, analysts clearly believe CleanSpark is more favorable than Covanta.
This table compares Covanta and CleanSpark’s net margins, return on equity and return on assets.
|Net Margins||Return on Equity||Return on Assets|
Covanta beats CleanSpark on 8 of the 11 factors compared between the two stocks.
Covanta Company Profile
Covanta Holding Corporation, through its subsidiaries, provides waste and energy services to municipal entities primarily in the United States and Canada. It owns and operates infrastructure for the conversion of waste to energy, as well as engages in related waste transport and disposal, and other renewable energy production businesses. The company disposes waste and generates electricity and/or steam; sells metal recovered during the energy-from-waste (EfW) process; and offers waste management solutions, such as site clean-up, wastewater treatment, pharmaceutical and healthcare solutions, transportation and logistics, recycling, and depackaging. It owns and operates 44 EfW facilities; 16 waste transfer stations, 20 material processing facilities, 4 landfills, and 1 regional metals recycling facility. Covanta Holding Corporation has a strategic partnership with the Green Investment Group Limited to develop, fund, and own EfW projects in Ireland and the United Kingdom. The company was formerly known as Danielson Holding Corporation and changed its name to Covanta Holding Corporation in September 2005. Covanta Holding Corporation was founded in 1960 and is headquartered in Morristown, New Jersey.
CleanSpark Company Profile
CleanSpark, Inc. provides energy software and control technology in the United States. The company offers an integrated distributed energy management control platform that provides energy generation with storage devices, as well as controls facility loads to provide energy security in real time to commercial, industrial, mining, defense, campus, and residential users. It also provides turnkey microgrid implementation services, microgid design and engineering, project development consulting, and solar photovoltaic installation and consulting. In addition, the company offers mPulse software suite, a modular platform that enables fine-grained control of a Microgrid; and microgrid value stream optimizer that provides a robust distributed energy and microgrid system modeling solution. Further, it converts various materials, including municipal solid waste, municipal sewage sludge, food and cooking waste, petroleum sludge and oily wastes, animal manures, cellulosic and non-cellulosic biomass, energy crops, scrap tires, and coal into SynGas. The company's SynGas is used as clean, renewable, environmentally friendly, and warming fuel for power plants and motor vehicles; and as feedstock for the generation of di-methyl ether. The company was formerly known as Stratean Inc. and changed its name to CleanSpark, Inc. in November 2016. CleanSpark, Inc. was incorporated in 1987 and is based in Bountiful, Utah.
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