Chardan Capital reissued their buy rating on shares of CleanSpark (NASDAQ:CLSK - Free Report) in a report released on Tuesday, Benzinga reports. Chardan Capital currently has a $26.00 price target on the stock.
Several other equities research analysts have also commented on the company. HC Wainwright reiterated a buy rating and set a $27.00 price objective on shares of CleanSpark in a research note 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 research note on Wednesday, April 10th. Cantor Fitzgerald lifted their target price on shares of CleanSpark from $10.00 to $20.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. TheStreet upgraded shares of CleanSpark from a d rating to a c- rating in a research report on Friday, February 9th. Finally, BTIG Research boosted their price target 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. 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, the company presently has a consensus rating of Moderate Buy and a consensus target price of $19.22.
Get Our Latest Stock Report on CLSK
CleanSpark Trading Down 5.1 %
Shares of CLSK stock traded down $0.89 during trading hours on Tuesday, hitting $16.54. 21,831,809 shares of the company's stock were exchanged, compared to its average volume of 33,941,832. CleanSpark has a fifty-two week low of $3.38 and a fifty-two week high of $24.72. The firm has a 50 day moving average of $17.71 and a two-hundred day moving average of $11.96.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.26. The company had revenue of $73.79 million during the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. On average, equities research analysts expect that CleanSpark will post -0.3 EPS for the current fiscal year.
Insider Activity
In related news, Director Roger Paul Beynon sold 10,976 shares of the firm's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the sale, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the firm's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total transaction of $549,286.92. Following the completion of the sale, the chief financial officer now owns 554,391 shares of the company's stock, valued at $11,603,403.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Roger Paul Beynon sold 10,976 shares of CleanSpark stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the sale, the director now owns 141,381 shares in the company, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,169,620 shares of company stock valued at $24,963,509. 3.46% of the stock is currently owned by insiders.
Institutional Trading of CleanSpark
A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Capital Advisory LLC acquired a new stake in shares of CleanSpark during the first quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of CleanSpark in the first quarter valued at $109,000. DekaBank Deutsche Girozentrale acquired a new position in CleanSpark during the 3rd quarter worth about $30,000. VitalStone Financial LLC lifted its stake in CleanSpark by 952.7% during the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company's stock worth $33,000 after acquiring an additional 8,050 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in CleanSpark by 100.0% during the 4th quarter. Signaturefd LLC now owns 9,000 shares of the company's stock valued at $99,000 after acquiring an additional 4,500 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.
About CleanSpark
(
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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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