CleanSpark (NASDAQ:CLSK) Stock Price Up 7.3%

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report)'s share price rose 7.3% during mid-day trading on Monday . The stock traded as high as $18.49 and last traded at $18.46. Approximately 31,062,839 shares changed hands during trading, a decline of 11% from the average daily volume of 34,833,266 shares. The stock had previously closed at $17.20.

Wall Street Analyst Weigh In

CLSK has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on CleanSpark from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 10th. TheStreet upgraded CleanSpark from a "d" rating to a "c-" rating in a research report on Friday, February 9th. Chardan Capital boosted their target price on CleanSpark from $13.00 to $26.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. Cantor Fitzgerald boosted their target price on CleanSpark from $10.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Finally, HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a report on Monday, April 15th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $19.22.

CleanSpark Trading Up 11.0 %

The company has a fifty day moving average price of $17.52 and a two-hundred day moving average price of $10.86.

CleanSpark (NASDAQ:CLSK - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analysts' expectations of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, analysts forecast that CleanSpark, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at CleanSpark

In related news, Director Roger Paul Beynon sold 10,976 shares of CleanSpark stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total value of $195,921.60. Following the transaction, the director now directly owns 141,381 shares of the company's stock, valued at $2,523,650.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the business's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $20.31, for a total value of $8,997,330.00. Following the transaction, the chief executive officer now owns 2,795,863 shares of the company's stock, valued at $56,783,977.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the business's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the transaction, the director now directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock worth $24,963,509 in the last 90 days. Corporate insiders own 3.46% of the company's stock.

Hedge Funds Weigh In On CleanSpark

Several institutional investors have recently modified their holdings of the company. United Capital Management of KS Inc. bought a new position in shares of CleanSpark during the 1st quarter valued at about $327,000. Sloy Dahl & Holst LLC bought a new position in shares of CleanSpark during the 1st quarter valued at about $302,000. CAP Partners LLC bought a new position in shares of CleanSpark during the 1st quarter valued at about $767,000. Banque Cantonale Vaudoise purchased a new stake in CleanSpark during the 1st quarter valued at about $109,000. Finally, Vanguard Group Inc. boosted its holdings in CleanSpark by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company's stock valued at $88,775,000 after acquiring an additional 515,314 shares during the period. 43.12% of the stock is currently owned by institutional investors.

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.