CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) shot up 7.5% during mid-day trading on Friday . The stock traded as high as $8.51 and last traded at $8.76. 9,503,846 shares were traded during mid-day trading, a decline of 68% from the average session volume of 29,416,068 shares. The stock had previously closed at $8.15.
Analyst Upgrades and Downgrades
CLSK has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Macquarie upped their target price 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. upgraded 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 report on Tuesday, December 10th. Needham & Company LLC assumed coverage on CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research note on Monday, January 27th. They issued an "outperform" rating and a $19.00 price target on the stock. Eight 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 $22.25.
Check Out Our Latest Stock Analysis on CleanSpark
CleanSpark Trading Up 0.1 %
The stock's 50 day moving average is $10.01 and its 200-day moving average is $10.94. The company has a market cap of $2.24 billion, a P/E ratio of 71.53 and a beta of 4.20.
CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. 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 2.61%. As a group, sell-side analysts forecast that CleanSpark, Inc. will post 0.58 EPS for the current year.
Insider Transactions at CleanSpark
In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $112,071.12. Following the transaction, the chief executive officer now owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the business's 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 $95,866.40. Following the sale, the chairman now owns 2,450,010 shares of the company's stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. 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. 2.65% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On CleanSpark
Several institutional investors and hedge funds have recently bought and sold shares of CLSK. FMR LLC raised its stake in shares of CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company's stock worth $231,000 after buying an additional 1,170 shares during the period. Prudential Financial Inc. raised its stake in CleanSpark by 9.1% during the 4th quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock worth $155,000 after acquiring an additional 1,405 shares during the period. Corebridge Financial Inc. lifted its holdings in CleanSpark by 1.2% during the fourth quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after purchasing an additional 1,507 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of CleanSpark by 2.6% in the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company's stock worth $635,000 after purchasing an additional 1,709 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of CleanSpark by 11.9% in the fourth quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock worth $161,000 after purchasing an additional 1,865 shares during the period. 43.12% of the stock is currently owned by hedge funds and other institutional investors.
About CleanSpark
(
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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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