CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $10.69, but opened at $10.19. CleanSpark shares last traded at $9.60, with a volume of 11,444,064 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have recently commented on CLSK shares. Chardan Capital reissued a "buy" rating and issued a $26.00 price target on shares of CleanSpark in a research report on Monday, May 13th. JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating for the company in a report on Friday, August 23rd. HC Wainwright restated a "buy" rating and issued a $27.00 price target on shares of CleanSpark in a report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Tuesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CleanSpark currently has an average rating of "Moderate Buy" and an average price target of $18.97.
View Our Latest Stock Report on CleanSpark
CleanSpark Stock Down 15.6 %
The firm has a fifty day simple moving average of $14.43 and a two-hundred day simple moving average of $16.37.
CleanSpark (NASDAQ:CLSK - Get Free Report) last released 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 3.64% and a negative net margin of 46.31%. The company had revenue of $104.11 million during the quarter, compared to analyst estimates of $114.04 million. Sell-side analysts forecast that CleanSpark, Inc. will post -0.06 EPS for the current year.
Institutional Investors Weigh In On CleanSpark
A number of large investors have recently made changes to their positions in CLSK. American Capital Advisory LLC purchased a new position in CleanSpark in the 1st quarter worth $32,000. National Bank of Canada FI lifted 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 purchasing an additional 2,119 shares during the period. Hollencrest Capital Management purchased a new stake in CleanSpark in the second quarter valued at approximately $48,000. Russell Investments Group Ltd. raised its position in CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company's stock worth $62,000 after buying an additional 787 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in CleanSpark during the 1st quarter valued at approximately $109,000. 43.12% of the stock is owned by hedge funds and other institutional investors.
About CleanSpark
(
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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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