CleanSpark, Inc. (NASDAQ:CLSK) Receives $18.97 Average PT from Brokerages

CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.97.

CLSK has been the topic of several recent research reports. Chardan Capital restated a "buy" rating and set a $26.00 target price on shares of CleanSpark in a research report on Monday, May 13th. Cantor Fitzgerald decreased their target price on shares of CleanSpark from $28.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, August 12th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating on the stock in a research report on Friday, August 23rd.

Institutional Trading of CleanSpark

A number of large investors have recently bought and sold shares of CLSK. American Capital Advisory LLC acquired a new stake in shares of CleanSpark in the 1st quarter worth $32,000. National Bank of Canada FI grew its holdings in shares of CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company's stock worth $41,000 after buying an additional 2,119 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of CleanSpark in the second quarter worth approximately $48,000. Russell Investments Group Ltd. boosted its position in shares of CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock worth $62,000 after acquiring an additional 787 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in CleanSpark during the first quarter valued at approximately $109,000. Institutional investors and hedge funds own 43.12% of the company's stock.

CleanSpark Stock Performance

CLSK traded down $0.12 on Friday, hitting $10.69. The company had a trading volume of 15,728,950 shares, compared to its average volume of 31,476,916. CleanSpark has a 52-week low of $3.38 and a 52-week high of $24.72. The stock has a fifty day simple moving average of $14.54 and a 200-day simple moving average of $16.42.

CleanSpark (NASDAQ:CLSK - Get Free Report) last posted its earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. The company had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. On average, analysts anticipate that CleanSpark will post -0.09 EPS for the current fiscal year.

CleanSpark Company Profile

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.