Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) fell 4.4% on Tuesday . The company traded as low as $10.59 and last traded at $10.93. 9,247,848 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 23,414,746 shares. The stock had previously closed at $11.43.
Wall Street Analysts Forecast Growth
Several brokerages have commented on CLSK. Macquarie increased their price target on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Tuesday, December 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $23.00 target price on shares of CleanSpark in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $23.17.
Check Out Our Latest Stock Report on CLSK
CleanSpark Price Performance
The stock's 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $12.48. The company has a market capitalization of $3.13 billion, a P/E ratio of -18.47 and a beta of 4.26.
Hedge Funds Weigh In On CleanSpark
Hedge funds have recently added to or reduced their stakes in the company. Doliver Advisors LP boosted its stake in shares of CleanSpark by 59.6% in the 4th quarter. Doliver Advisors LP now owns 20,000 shares of the company's stock valued at $184,000 after purchasing an additional 7,470 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after purchasing an additional 3,579 shares during the period. Sanctuary Advisors LLC boosted its position in shares of CleanSpark by 167.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 47,882 shares of the company's stock worth $447,000 after purchasing an additional 29,964 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of CleanSpark during the third quarter worth $903,000. Finally, Geode Capital Management LLC increased its holdings in CleanSpark by 9.8% in the third 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. Institutional investors own 43.12% of the company's stock.
CleanSpark Company Profile
(
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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