CleanSpark’s (CLSK) “Buy” Rating Reaffirmed at HC Wainwright

CleanSpark (NASDAQ:CLSK)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $27.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 161.88% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CLSK. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday. They set an “outperform” rating and a $19.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.57.

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $10.31 on Tuesday. CleanSpark has a 1 year low of $7.64 and a 1 year high of $24.72. The company has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $12.00. The firm has a market cap of $3.02 billion, a PE ratio of -17.78 and a beta of 4.26.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. As a group, research analysts anticipate that CleanSpark will post 0.18 earnings per share for the current fiscal year.

Institutional Trading of CleanSpark

Several institutional investors and hedge funds have recently made changes to their positions in the company. Money Concepts Capital Corp lifted its position in shares of CleanSpark by 19.7% during the 4th quarter. Money Concepts Capital Corp now owns 51,571 shares of the company’s stock worth $475,000 after buying an additional 8,487 shares in the last quarter. Archer Investment Management LLC bought a new stake in shares of CleanSpark during the 4th quarter worth $122,000. R Squared Ltd bought a new position in CleanSpark during the fourth quarter valued at about $101,000. KBC Group NV increased its holdings in CleanSpark by 36.5% during the fourth quarter. KBC Group NV now owns 10,103 shares of the company’s stock worth $93,000 after buying an additional 2,700 shares during the last quarter. Finally, Archford Capital Strategies LLC bought a new stake in CleanSpark in the fourth quarter worth about $184,000. Hedge funds and other 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.