CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $7.97, but opened at $7.79. CleanSpark shares last traded at $7.72, with a volume of 1,894,302 shares changing hands.
Analysts Set New Price Targets
CLSK has been the subject of a number of recent research reports. HC Wainwright reissued a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Macquarie upped their price target on CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research report on Monday, January 27th. They issued an "outperform" rating and a $19.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $21.57.
Read Our Latest Report on CLSK
CleanSpark Stock Down 4.0 %
The company's 50 day moving average price is $9.61 and its two-hundred day moving average price is $10.74. The stock has a market cap of $2.09 billion, a P/E ratio of 67.64 and a beta of 4.20.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data 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%. As a group, equities research analysts forecast that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
Insider Activity at CleanSpark
In related news, Chairman S. Matthew Schultz sold 9,010 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 $95,866.40. Following the completion of the sale, the chairman now owns 2,450,010 shares of the company's stock, valued at approximately $26,068,106.40. This represents a 0.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,186 shares of company stock worth $246,375 over the last three months. Company insiders own 2.65% of the company's stock.
Hedge Funds Weigh In On CleanSpark
Several large investors have recently made changes to their positions in CLSK. Victory Capital Management Inc. raised its holdings in shares of CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company's stock valued at $635,000 after purchasing an additional 1,709 shares in the last quarter. KBC Group NV grew its position in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company's stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. Quest Partners LLC purchased a new position in CleanSpark during the 3rd quarter worth $374,000. Intech Investment Management LLC purchased a new stake in shares of CleanSpark in the third quarter valued at about $674,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company's stock valued at $20,500,000 after acquiring an additional 208,862 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.
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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