Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) Target Price at $18.97

CleanSpark, Inc. (NASDAQ:CLSK) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $19.11.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Tuesday, September 3rd. Macquarie assumed coverage on CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. decreased their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd.

CleanSpark Trading Up 0.4 %

Shares of CleanSpark stock opened at $10.13 on Wednesday. The stock has a 50 day moving average price of $11.57 and a 200-day moving average price of $15.27. CleanSpark has a one year low of $3.38 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. Sell-side analysts expect that CleanSpark will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 26,272 shares of company stock valued at $256,874. 3.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CleanSpark

Several large investors have recently modified their holdings of the business. American Capital Advisory LLC purchased a new position in CleanSpark during the first quarter valued at approximately $32,000. National Bank of Canada FI increased its position in shares of CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after purchasing an additional 2,119 shares in the last quarter. Hollencrest Capital Management purchased a new position in CleanSpark during the 2nd quarter worth $48,000. Russell Investments Group Ltd. grew its stake in shares of CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in CleanSpark during the 1st quarter worth approximately $109,000. Institutional investors own 43.12% of the company’s stock.

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.