CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) rose 5.8% during mid-day trading on Tuesday . The stock traded as high as $7.05 and last traded at $7.11. Approximately 5,759,860 shares traded hands during trading, a decline of 80% from the average daily volume of 28,675,595 shares. The stock had previously closed at $6.72.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the company. Needham & Company LLC initiated coverage on CleanSpark in a research report on Wednesday, February 12th. They set a "buy" rating and a $20.00 price target on the stock. HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective for the company. Chardan Capital upgraded shares of CleanSpark to a "strong-buy" rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CleanSpark presently has a consensus rating of "Buy" and an average target price of $21.57.
Check Out Our Latest Report on CLSK
CleanSpark Trading Down 1.2 %
The firm has a market capitalization of $2.06 billion, a PE ratio of 66.55 and a beta of 4.12. The firm's fifty day moving average price is $8.93 and its 200 day moving average price is $10.66.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its 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 negative return on equity of 2.61% and a net margin of 16.07%. As a group, research analysts expect that CleanSpark, Inc. will post 0.58 EPS for the current year.
Insider Buying and Selling at CleanSpark
In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the transaction, the chief executive officer now directly owns 3,059,326 shares in the company, valued at $32,551,228.64. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the sale, the director now directly owns 140,289 shares of the company's stock, valued at $1,118,103.33. This represents a 8.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,836 shares of company stock worth $335,945 over the last ninety days. 2.65% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company's stock worth $231,000 after purchasing an additional 1,170 shares during the period. Prudential Financial Inc. boosted its holdings in shares of 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 buying an additional 1,405 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of CleanSpark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock worth $1,139,000 after buying an additional 1,507 shares during the period. Sigma Planning Corp grew its stake in CleanSpark by 11.9% in the 4th quarter. Sigma Planning Corp now owns 17,518 shares of the company's stock valued at $161,000 after buying an additional 1,865 shares during the last quarter. Finally, Mackenzie Financial Corp raised its holdings in CleanSpark by 13.5% in the 4th quarter. Mackenzie Financial Corp now owns 15,916 shares of the company's stock worth $147,000 after acquiring an additional 1,898 shares during the period. Institutional investors and hedge funds own 43.12% of the company's stock.
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.
Further Reading
Before you consider CleanSpark, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CleanSpark wasn't on the list.
While CleanSpark currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
