Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) were up 0.7% on Thursday . The stock traded as high as $9.79 and last traded at $9.27. Approximately 11,351,985 shares changed hands during trading, a decline of 64% from the average daily volume of 31,514,195 shares. The stock had previously closed at $9.21.
Analyst Ratings Changes
Several research firms recently weighed in on CLSK. Macquarie raised their price objective on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark currently has an average rating of "Buy" and an average target price of $23.17.
Read Our Latest Stock Report on CLSK
CleanSpark Stock Up 2.6 %
The company has a market cap of $2.76 billion, a P/E ratio of -16.29 and a beta of 4.16. The firm's 50 day moving average is $12.61 and its two-hundred day moving average is $12.74.
Hedge Funds Weigh In On CleanSpark
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in CleanSpark during the 2nd quarter worth approximately $18,074,000. Van ECK Associates Corp increased its position in shares of CleanSpark by 64.0% during the third 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 raised its stake in CleanSpark by 9.8% during the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company's stock worth $57,577,000 after buying an additional 549,187 shares during the last quarter. Millennium Management LLC lifted its holdings in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company's stock valued at $19,958,000 after buying an additional 534,825 shares during the period. Finally, Barclays PLC boosted its position in CleanSpark by 364.0% during the third quarter. Barclays PLC now owns 389,201 shares of the company's stock valued at $3,634,000 after acquiring an additional 305,316 shares during the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.
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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