CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report)'s stock price traded up 4.8% on Wednesday . The company traded as high as $7.88 and last traded at $7.96. 1,784,221 shares were traded during mid-day trading, a decline of 94% from the average session volume of 28,819,818 shares. The stock had previously closed at $7.59.
Analysts Set New Price Targets
CLSK has been the topic of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, February 7th. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They set an "outperform" rating and a $19.00 price target on the stock. Macquarie raised their price objective 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. JPMorgan Chase & Co. reduced their target price on CleanSpark from $17.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Needham & Company LLC began coverage on shares of CleanSpark in a research note on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, CleanSpark has an average rating of "Buy" and a consensus target price of $21.57.
View Our Latest Research Report on CLSK
CleanSpark Stock Performance
The business has a 50 day moving average price of $9.61 and a two-hundred day moving average price of $10.76. The company has a market cap of $2.09 billion, a P/E ratio of 67.64 and a beta of 4.20.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) 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%. 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 CleanSpark stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman S. Matthew Schultz sold 9,010 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $10.64, for a total value of $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares in the company, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,186 shares of company stock valued at $246,375. 2.65% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On CleanSpark
A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in CleanSpark by 7.6% during the 4th quarter. California State Teachers Retirement System now owns 236,433 shares of the company's stock valued at $2,178,000 after acquiring an additional 16,789 shares during the period. United Advisor Group LLC boosted its position in shares of CleanSpark by 144.4% in the 4th quarter. United Advisor Group LLC now owns 61,550 shares of the company's stock worth $567,000 after purchasing an additional 36,370 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of CleanSpark by 13.5% in the fourth 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in CleanSpark by 22.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 512,765 shares of the company's stock worth $4,723,000 after purchasing an additional 93,086 shares in the last quarter. Finally, Tidal Investments LLC grew its position in CleanSpark by 50.8% during the 4th quarter. Tidal Investments LLC now owns 2,394,779 shares of the company's stock valued at $22,056,000 after purchasing an additional 806,435 shares during the last quarter. Institutional investors 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.
See Also
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
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
