CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report)'s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $10.38, but opened at $11.55. CleanSpark shares last traded at $11.93, with a volume of 24,868,344 shares.
The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%.
Analyst Ratings Changes
CLSK has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday. Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. JPMorgan Chase & Co. raised CleanSpark from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Macquarie upped 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. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark has an average rating of "Buy" and a consensus price target of $22.57.
Read Our Latest Analysis on CLSK
Institutional Trading of CleanSpark
Several large investors have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in shares of CleanSpark by 84.8% during the 2nd quarter. Cetera Investment Advisers now owns 124,992 shares of the company's stock worth $1,994,000 after acquiring an additional 57,354 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in CleanSpark during the 2nd quarter worth approximately $286,000. Handelsbanken Fonder AB lifted its holdings in CleanSpark by 32.4% during the third quarter. Handelsbanken Fonder AB now owns 56,000 shares of the company's stock valued at $523,000 after purchasing an additional 13,700 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of CleanSpark by 45.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 568,086 shares of the company's stock valued at $5,306,000 after buying an additional 178,117 shares in the last quarter. Finally, VitalStone Financial LLC boosted its stake in shares of CleanSpark by 124.6% in the third quarter. VitalStone Financial LLC now owns 142,554 shares of the company's stock worth $1,331,000 after acquiring an additional 79,073 shares during the period. Institutional investors own 43.12% of the company's stock.
CleanSpark Trading Down 8.0 %
The firm has a 50 day moving average of $11.27 and a 200-day moving average of $11.51. The company has a market cap of $2.89 billion, a P/E ratio of 93.44 and a beta of 4.25.
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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