CleanSpark, Inc. (NASDAQ:CLSK) Receives $21.42 Consensus PT from Brokerages

CleanSpark, Inc. (NASDAQ:CLSK) has been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.42.

Several research analysts recently commented on CLSK shares. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Macquarie started coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, August 23rd.

CleanSpark Price Performance

CLSK opened at $14.03 on Thursday. The company’s 50 day simple moving average is $10.89 and its 200 day simple moving average is $13.72. CleanSpark has a 1 year low of $3.75 and a 1 year high of $24.72.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the sale, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. The trade was a 13.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 26,272 shares of company stock worth $250,003. Insiders own 2.99% of the company’s stock.

Institutional Trading of CleanSpark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of CleanSpark by 9.8% in 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. Barclays PLC boosted its holdings in CleanSpark by 364.0% in the third quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after purchasing an additional 305,316 shares during the period. Main Management ETF Advisors LLC acquired a new position in CleanSpark in the third quarter worth $486,000. Kovitz Investment Group Partners LLC boosted its holdings in CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after purchasing an additional 85,388 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in CleanSpark by 48.9% in the third quarter. Wellington Management Group LLP now owns 29,176 shares of the company’s stock worth $273,000 after purchasing an additional 9,579 shares during the period. Institutional investors own 43.12% of the company’s stock.

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.