Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $7.35 and last traded at $7.54, with a volume of 1786904 shares changing hands. The stock had previously closed at $7.79.
Wall Street Analyst Weigh In
CLSK has been the topic of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie boosted their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. HC Wainwright reissued a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Finally, Needham & Company LLC started coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $22.25.
Read Our Latest Stock Report on CleanSpark
CleanSpark Price Performance
The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 80.28 and a beta of 4.20. The firm's fifty day moving average is $10.04 and its 200-day moving average is $10.98.
CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. On average, sell-side analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current year.
Insider Buying and Selling at CleanSpark
In other news, CEO Zachary Bradford sold 10,533 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the transaction, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,186 shares of company stock worth $246,375 over the last 90 days. Insiders own 2.65% of the company's stock.
Hedge Funds Weigh In On CleanSpark
Several institutional investors have recently modified their holdings of CLSK. Assenagon Asset Management S.A. acquired a new stake in CleanSpark in the fourth quarter worth about $39,940,000. Price T Rowe Associates Inc. MD lifted its holdings in CleanSpark by 1,018.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,687,022 shares of the company's stock worth $15,538,000 after purchasing an additional 1,536,145 shares during the period. Jump Financial LLC acquired a new stake in CleanSpark in the fourth quarter worth about $13,443,000. Shaolin Capital Management LLC acquired a new stake in CleanSpark in the fourth quarter worth about $8,559,000. Finally, Invesco Ltd. lifted its holdings in CleanSpark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company's stock worth $27,486,000 after purchasing an additional 914,279 shares during the period. Institutional investors own 43.12% of the company's stock.
About CleanSpark
(
Get Free Report)
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.
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