CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) rose 3.3% during mid-day trading on Thursday after Cantor Fitzgerald raised their price target on the stock from $10.00 to $20.00. Cantor Fitzgerald currently has an overweight rating on the stock. CleanSpark traded as high as $24.10 and last traded at $23.88. Approximately 13,051,510 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 35,450,887 shares. The stock had previously closed at $23.11.
A number of other research firms also recently weighed in on CLSK. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Chardan Capital upped their price target on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 price target (down from $9.00) on shares of CleanSpark in a research note on Friday, December 8th. BTIG Research upped their price target on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.05.
Get Our Latest Analysis on CLSK
Insider Activity
Institutional Trading of CleanSpark
Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of CleanSpark by 62.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock valued at $93,032,000 after purchasing an additional 3,235,171 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of CleanSpark by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after purchasing an additional 515,314 shares during the last quarter. BlackRock Inc. boosted its stake in CleanSpark by 32.9% in the second quarter. BlackRock Inc. now owns 6,797,076 shares of the company’s stock valued at $29,159,000 after acquiring an additional 1,682,954 shares during the last quarter. Finally, State Street Corp boosted its stake in CleanSpark by 124.6% in the second quarter. State Street Corp now owns 5,563,128 shares of the company’s stock valued at $23,866,000 after acquiring an additional 3,085,789 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.
CleanSpark Stock Down 8.2 %
The business’s 50 day simple moving average is $14.77 and its 200-day simple moving average is $9.34.
CleanSpark (NASDAQ:CLSK – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. The business had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. On average, equities research analysts predict that CleanSpark, Inc. will post -0.3 EPS for the current year.
CleanSpark Company Profile
CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.
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