CleanSpark's (CLSK) "Buy" Rating Reiterated at HC Wainwright

CleanSpark (NASDAQ:CLSK - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $27.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 168.66% from the company's current price.

Several other equities analysts also recently weighed in on CLSK. Cantor Fitzgerald reiterated an "overweight" rating and issued a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a report on Monday. They set an "outperform" rating and a $19.00 target price for the company. Macquarie upped their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark presently has a consensus rating of "Buy" and a consensus price target of $22.57.

CleanSpark Stock Down 2.5 %

Shares of CLSK traded down $0.26 during trading hours on Tuesday, reaching $10.05. 17,558,448 shares of the company traded hands, compared to its average volume of 24,249,736. The business has a fifty day moving average price of $11.95 and a 200-day moving average price of $12.00. CleanSpark has a 12-month low of $7.64 and a 12-month high of $24.72. The stock has a market capitalization of $2.94 billion, a P/E ratio of -17.33 and a beta of 4.26.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate 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 predict that CleanSpark will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

Institutional investors have recently modified their holdings of the business. Amalgamated Bank grew its holdings in CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company's stock valued at $122,000 after purchasing an additional 1,194 shares during the period. Sei Investments Co. grew its stake in CleanSpark by 7.0% in the 2nd quarter. Sei Investments Co. now owns 30,344 shares of the company's stock valued at $484,000 after acquiring an additional 1,987 shares during the period. Thrivent Financial for Lutherans increased its holdings in CleanSpark by 311.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 86,718 shares of the company's stock worth $1,383,000 after acquiring an additional 65,644 shares in the last quarter. Bank of Montreal Can raised its position in CleanSpark by 15.4% during the second quarter. Bank of Montreal Can now owns 104,074 shares of the company's stock worth $1,731,000 after acquiring an additional 13,868 shares during the period. Finally, Xponance Inc. lifted its holdings in CleanSpark by 19.1% during the second quarter. Xponance Inc. now owns 14,449 shares of the company's stock valued at $230,000 after purchasing an additional 2,319 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.