Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) were up 10.4% during trading on Monday . The stock traded as high as $17.89 and last traded at $17.83. Approximately 7,463,962 shares traded hands during trading, a decline of 78% from the average daily volume of 33,837,863 shares. The stock had previously closed at $16.15.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. BTIG Research lifted their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on CleanSpark from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, April 10th. TheStreet upgraded CleanSpark from a "d" rating to a "c-" rating in a research note on Friday, February 9th. Finally, Cantor Fitzgerald increased their price target on CleanSpark from $10.00 to $20.00 and gave the company an "overweight" rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.22.
Check Out Our Latest Research Report on CleanSpark
CleanSpark Price Performance
The stock has a 50 day moving average of $17.71 and a 200-day moving average of $11.96.
CleanSpark (NASDAQ:CLSK - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The business had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. As a group, analysts forecast that CleanSpark, Inc. will post -0.3 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Chairman S. Matthew Schultz sold 367,000 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the completion of the transaction, the chairman now directly owns 2,298,975 shares in the company, valued at $53,037,353.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman S. Matthew Schultz sold 367,000 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares of the company's stock, valued at $53,037,353.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Zachary Bradford sold 443,000 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total value of $8,997,330.00. Following the completion of the transaction, the chief executive officer now directly owns 2,795,863 shares of the company's stock, valued at $56,783,977.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,169,620 shares of company stock valued at $24,963,509. 3.46% of the stock is owned by insiders.
Hedge Funds Weigh In On CleanSpark
A number of large investors have recently bought and sold shares of CLSK. DekaBank Deutsche Girozentrale purchased a new position in CleanSpark during the third quarter valued at $30,000. American Capital Advisory LLC purchased a new position in CleanSpark in the 1st quarter valued at about $32,000. VitalStone Financial LLC boosted its holdings in CleanSpark by 952.7% in the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company's stock worth $33,000 after buying an additional 8,050 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in CleanSpark during the 3rd quarter worth approximately $38,000. Finally, Scotia Capital Inc. acquired a new position in shares of CleanSpark during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 43.12% of the company's stock.
CleanSpark Company Profile
(
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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