Shares of CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) dropped 4.4% on Tuesday . The stock traded as low as $11.51 and last traded at $11.63. Approximately 2,710,413 shares changed hands during trading, a decline of 91% from the average daily volume of 31,628,551 shares. The stock had previously closed at $12.16.
Wall Street Analyst Weigh In
CLSK has been the subject of a number of research analyst reports. Chardan Capital reiterated a "buy" rating and issued a $26.00 price target on shares of CleanSpark in a research note on Monday, May 13th. Cantor Fitzgerald lowered their target price on shares of CleanSpark from $28.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. HC Wainwright restated a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of CleanSpark from $12.50 to $10.50 and set a "neutral" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, CleanSpark currently has a consensus rating of "Moderate Buy" and an average target price of $18.97.
Read Our Latest Research Report on CLSK
CleanSpark Stock Down 5.7 %
The stock's 50 day moving average price is $15.02 and its two-hundred day moving average price is $16.54.
Hedge Funds Weigh In On CleanSpark
Several institutional investors and hedge funds have recently modified their holdings of CLSK. Swiss National Bank increased its stake in shares of CleanSpark by 21.3% in the 1st quarter. Swiss National Bank now owns 364,800 shares of the company's stock valued at $7,737,000 after purchasing an additional 64,000 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CleanSpark by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company's stock valued at $88,775,000 after buying an additional 515,314 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CleanSpark by 62.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company's stock worth $93,032,000 after acquiring an additional 3,235,171 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in CleanSpark during the fourth quarter worth $331,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in CleanSpark by 73.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,884 shares of the company's stock valued at $396,000 after purchasing an additional 15,162 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company's stock.
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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