Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) Target Price at $22.08

Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.08.

CLSK has been the topic of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating on the stock in a report on Friday, August 23rd. Finally, Macquarie increased their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th.

CleanSpark Price Performance

Shares of CleanSpark stock traded down $1.41 during mid-day trading on Monday, hitting $13.56. 33,031,668 shares of the stock were exchanged, compared to its average volume of 31,320,998. CleanSpark has a 12 month low of $6.41 and a 12 month high of $24.72. The company has a 50-day simple moving average of $12.34 and a 200 day simple moving average of $13.43.

Insider Buying and Selling

In related 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 value of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. The trade was a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 26,272 shares of company stock worth $254,836. Insiders own 2.99% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of CleanSpark during the second quarter worth about $18,074,000. Van ECK Associates Corp increased its stake in CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company's stock worth $14,857,000 after buying an additional 620,792 shares in the last quarter. Geode Capital Management LLC raised its stake in CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock valued at $57,577,000 after purchasing an additional 549,187 shares during the last quarter. Millennium Management LLC lifted its stake in shares of CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company's stock worth $19,958,000 after buying an additional 534,825 shares in the last quarter. Finally, Barclays PLC raised its holdings in CleanSpark by 364.0% in the 3rd quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after acquiring an additional 305,316 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

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.