CleanSpark, Inc. (NASDAQ:CLSK) Given Consensus Recommendation of “Moderate Buy” by Analysts

CleanSpark, Inc. (NASDAQ:CLSK) has received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $21.42.

Several research firms recently weighed in on CLSK. Macquarie started coverage on CleanSpark in a research report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Wednesday, September 25th.

CleanSpark Price Performance

CLSK opened at $14.00 on Thursday. CleanSpark has a 12-month low of $4.31 and a 12-month high of $24.72. The company’s 50 day moving average is $11.08 and its 200 day moving average is $13.67.

Insider Transactions at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the sale, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 26,272 shares of company stock worth $250,003 in the last three months. Insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On CleanSpark

Institutional investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC purchased a new stake in CleanSpark during the 3rd quarter valued at $903,000. Geode Capital Management LLC lifted its holdings in shares of CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after acquiring an additional 549,187 shares during the last quarter. Barclays PLC boosted its stake in shares of CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after purchasing an additional 305,316 shares during the period. Main Management ETF Advisors LLC bought a new position in CleanSpark during the 3rd quarter valued at about $486,000. Finally, Kovitz Investment Group Partners LLC raised its position in CleanSpark by 85.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after purchasing an additional 85,388 shares during the period. 43.12% of the stock is owned by institutional investors.

About CleanSpark

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.