Cleanspark (NASDAQ:CLSK) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Cleanspark's stock has been given a "hold (C)" rating by Weiss Ratings, with a consensus rating of "Moderate Buy" from other analysts, indicating mixed sentiment on its performance.
• Shares of Cleanspark recently rose by 9.6%, reaching $19.36, with a market cap of approximately $5.44 billion and a year-over-year revenue increase of 90.8%.
• Recent analyst reports show several price target increases, with B. Riley setting a new target of $25.00 and BTIG Research raising it to $26.00, both issuing "buy" ratings.

Cleanspark (NASDAQ:CLSK - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other analysts have also recently issued reports about the stock. B. Riley upped their price target on shares of Cleanspark from $17.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. BTIG Research upped their price target on shares of Cleanspark from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. LADENBURG THALM/SH SH assumed coverage on shares of Cleanspark in a research report on Monday, July 28th. They set a "buy" rating and a $20.25 price target for the company. Needham & Company LLC upped their price target on shares of Cleanspark from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $14.00 price target (down from $15.00) on shares of Cleanspark in a research report on Friday, September 26th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cleanspark presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.83.

Cleanspark Stock Up 9.6%

Shares of CLSK stock traded up $1.69 on Friday, reaching $19.36. 24,842,969 shares of the stock were exchanged, compared to its average volume of 39,794,352. The stock has a market cap of $5.44 billion, a P/E ratio of 22.78 and a beta of 3.88. The firm has a 50 day moving average of $13.74 and a two-hundred day moving average of $11.23. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.71. The business had revenue of $198.64 million during the quarter, compared to the consensus estimate of $191.33 million. Cleanspark had a return on equity of 8.89% and a net margin of 47.98%.The business's revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.03) EPS. On average, equities research analysts predict that Cleanspark will post 0.58 EPS for the current fiscal year.

Insider Transactions at Cleanspark

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the sale, the chief operating officer directly owned 120,337 shares in the company, valued at $1,097,473.44. The trade was a 34.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.65% of the stock is owned by corporate insiders.

Institutional Trading of Cleanspark

Institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Cleanspark in the second quarter valued at $29,000. Fifth Third Bancorp lifted its position in shares of Cleanspark by 145.3% during the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company's stock worth $32,000 after purchasing an additional 1,694 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of Cleanspark during the third quarter worth about $32,000. Strs Ohio bought a new position in shares of Cleanspark during the first quarter worth about $38,000. Finally, Quarry LP bought a new position in shares of Cleanspark during the first quarter worth about $47,000. 43.12% of the stock is owned by institutional investors and hedge funds.

About Cleanspark

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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