CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) fell 4.1% on Friday . The company traded as low as $9.81 and last traded at $9.94. 9,931,228 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 31,515,906 shares. The stock had previously closed at $10.36.
Analyst Upgrades and Downgrades
CLSK has been the topic of several recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of CleanSpark from a "neutral" rating to an "overweight" rating and upped their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Macquarie increased their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $23.17.
Read Our Latest Analysis on CleanSpark
CleanSpark Stock Down 5.6 %
The firm's fifty day moving average is $12.90 and its two-hundred day moving average is $13.00. The firm has a market cap of $2.86 billion, a P/E ratio of -16.86 and a beta of 4.16.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in CleanSpark in the second quarter worth $18,074,000. Van ECK Associates Corp grew its position in shares of CleanSpark by 64.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company's stock worth $14,857,000 after buying an additional 620,792 shares during the period. Geode Capital Management LLC increased its stake in shares of CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after acquiring an additional 549,187 shares in the last quarter. Millennium Management LLC lifted its position in CleanSpark by 74.6% during the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company's stock valued at $19,958,000 after acquiring an additional 534,825 shares during the period. Finally, Barclays PLC boosted its stake in CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company's stock worth $3,634,000 after acquiring an additional 305,316 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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