Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $11.44, but opened at $11.98. Cleanspark shares last traded at $12.87, with a volume of 10,971,964 shares traded.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CLSK. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 target price on shares of Cleanspark in a research report on Monday, September 8th. Wall Street Zen raised shares of Cleanspark from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Cleanspark from $14.00 to $15.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. BTIG Research reissued a "buy" rating on shares of Cleanspark in a research report on Friday, June 13th. Finally, Cantor Fitzgerald lifted their price target on shares of Cleanspark from $25.00 to $26.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $20.47.
Get Our Latest Analysis on Cleanspark
Cleanspark Stock Up 17.3%
The firm has a market capitalization of $3.77 billion, a PE ratio of 15.67 and a beta of 3.65. The firm's fifty day simple moving average is $10.70 and its 200-day simple moving average is $9.51.
Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.71. The business had revenue of $198.64 million during the quarter, compared to analysts' expectations of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The business's revenue for the quarter was up 90.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.03) earnings per share. As a group, analysts predict that Cleanspark, Inc. will post 0.58 earnings per share for the current year.
Insider Transactions at Cleanspark
In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $9.12, for a total value of $581,062.56. Following the completion of the transaction, the chief operating officer directly owned 120,337 shares of the company's stock, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.65% of the company's stock.
Institutional Trading of Cleanspark
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cleanspark by 22.8% in the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company's stock worth $162,259,000 after acquiring an additional 4,489,866 shares during the period. Geode Capital Management LLC grew its stake in shares of Cleanspark by 1.4% in the second quarter. Geode Capital Management LLC now owns 7,536,772 shares of the company's stock worth $83,139,000 after acquiring an additional 101,401 shares during the period. Invesco Ltd. grew its stake in shares of Cleanspark by 2.1% in the second quarter. Invesco Ltd. now owns 3,672,324 shares of the company's stock worth $40,506,000 after acquiring an additional 74,922 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cleanspark by 26.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company's stock worth $20,951,000 after acquiring an additional 652,811 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Cleanspark by 16.0% in the first quarter. Northern Trust Corp now owns 2,807,078 shares of the company's stock worth $18,864,000 after acquiring an additional 388,021 shares during the period. 43.12% of the stock is currently owned by institutional investors.
About Cleanspark
(
Get Free Report)
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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