CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) shares were up 7.5% on Friday . The stock traded as high as $8.51 and last traded at $8.76. Approximately 9,503,846 shares were traded during trading, a decline of 68% from the average daily volume of 29,416,068 shares. The stock had previously closed at $8.15.
Analyst Ratings Changes
Several equities research analysts recently weighed in on CLSK shares. Macquarie upped their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They set an "outperform" rating and a $19.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Needham & Company LLC started coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They set a "buy" rating and a $20.00 target price on the stock. Finally, JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $22.25.
Get Our Latest Analysis on CLSK
CleanSpark Trading Up 8.3 %
The firm's fifty day moving average price is $10.04 and its 200-day moving average price is $10.98. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 80.28 and a beta of 4.20.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its 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 earnings per share for the current year.
Insider Activity
In related news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction 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 owns 3,059,326 shares in the company, valued at $32,551,228.64. This represents a 0.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $95,866.40. Following 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 disclosure for this sale can be found here. In the last quarter, insiders sold 23,186 shares of company stock worth $246,375. Corporate insiders own 2.65% of the company's stock.
Institutional Trading of CleanSpark
A number of large investors have recently bought and sold shares of the business. Compagnie Lombard Odier SCmA purchased a new stake in shares of CleanSpark in the fourth quarter valued at about $31,000. GAMMA Investing LLC boosted its holdings in shares of CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company's stock valued at $36,000 after acquiring an additional 3,579 shares in the last quarter. Hollencrest Capital Management boosted its holdings in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of CleanSpark by 60.0% in the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company's stock valued at $54,000 after acquiring an additional 2,196 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company's stock valued at $69,000 after acquiring an additional 2,190 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.
CleanSpark Company Profile
(
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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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