CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) rose 3.5% during trading on Tuesday . The stock traded as high as $10.75 and last traded at $10.62. Approximately 8,359,146 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 31,639,594 shares. The stock had previously closed at $10.26.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Macquarie increased their price target on 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 issued a $27.00 price target on shares of CleanSpark in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price objective on shares of CleanSpark in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark presently has an average rating of "Buy" and an average price target of $23.17.
Check Out Our Latest Research Report on CLSK
CleanSpark Stock Up 3.9 %
The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -18.38 and a beta of 4.16. The company has a 50-day moving average price of $12.96 and a 200-day moving average price of $13.07.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in CleanSpark by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 871,793 shares of the company's stock worth $13,905,000 after purchasing an additional 215,124 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of CleanSpark in the second quarter valued at approximately $290,000. TSA Wealth Managment LLC boosted its holdings in shares of CleanSpark by 22.7% in the second quarter. TSA Wealth Managment LLC now owns 16,830 shares of the company's stock valued at $268,000 after acquiring an additional 3,112 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of CleanSpark by 13.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,617 shares of the company's stock valued at $712,000 after acquiring an additional 5,347 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in CleanSpark by 33.0% during the second quarter. Principal Financial Group Inc. now owns 29,937 shares of the company's stock worth $477,000 after purchasing an additional 7,426 shares in 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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