CleanSpark, Inc. (NASDAQ:CLSK) Receives $21.42 Consensus Price Target from Brokerages

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.42.

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

CleanSpark Stock Down 6.7 %

CLSK traded down $1.00 on Thursday, reaching $13.98. 33,893,694 shares of the company's stock were exchanged, compared to its average volume of 30,593,547. CleanSpark has a twelve month low of $3.75 and a twelve month high of $24.72. The company's 50 day moving average is $10.67 and its 200-day moving average is $13.76.

Insider Transactions at CleanSpark

In other news, Director Thomas Leigh Wood sold 22,222 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the transaction, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The trade was a 13.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 26,272 shares of company stock valued at $250,003 in the last three months. 2.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CleanSpark

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management lifted its position in shares of CleanSpark by 33.3% during the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. National Bank of Canada FI raised its position in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock valued at $41,000 after purchasing an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. boosted its position in CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock valued at $62,000 after buying an additional 787 shares during the period. KBC Group NV increased its position in shares of CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after buying an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company's stock valued at $75,000 after acquiring an additional 1,345 shares during the period. 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.