CleanSpark, Inc. (NASDAQ:CLSK) Receives $23.17 Consensus Target Price from Analysts

CleanSpark, Inc. (NASDAQ:CLSK) has earned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $23.17.

A number of equities research analysts have recently weighed in on CLSK shares. Macquarie boosted their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd.

CleanSpark Stock Up 14.3 %

CleanSpark stock opened at $10.80 on Friday. The firm has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $12.63. CleanSpark has a twelve month low of $6.41 and a twelve month high of $24.72. The company has a market capitalization of $3.16 billion, a PE ratio of -18.62 and a beta of 4.16.

Hedge Funds Weigh In On CleanSpark

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after purchasing an additional 3,579 shares during the period. Hollencrest Capital Management boosted its stake in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. National Bank of Canada FI increased its position 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 valued at $41,000 after buying an additional 2,119 shares during the period. KBC Group NV raised its stake in CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after buying an additional 2,190 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after buying an additional 1,345 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.