Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) PT at $21.57

CleanSpark, Inc. (NASDAQ:CLSK) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $21.57.

CLSK has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Macquarie increased their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC initiated coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company.

Insider Transactions at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 10,533 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the sale, the chief executive officer now owns 3,059,326 shares in the company, valued at approximately $32,551,228.64. The trade was a 0.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman S. Matthew Schultz sold 9,010 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the sale, the chairman now owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,186 shares of company stock worth $246,375. Company insiders own 2.65% of the company’s stock.

Institutional Trading of CleanSpark

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in CleanSpark by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock worth $181,029,000 after buying an additional 495,367 shares during the last quarter. Geode Capital Management LLC increased its holdings in CleanSpark by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock worth $60,037,000 after buying an additional 353,807 shares during the last quarter. State Street Corp increased its holdings in CleanSpark by 4.5% during the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after buying an additional 261,195 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in CleanSpark during the fourth quarter worth about $39,940,000. Finally, Invesco Ltd. increased its holdings in CleanSpark by 44.2% during the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after buying an additional 914,279 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $7.44 on Wednesday. The company’s 50 day simple moving average is $9.61 and its 200 day simple moving average is $10.73. CleanSpark has a fifty-two week low of $7.22 and a fifty-two week high of $24.72. The firm has a market capitalization of $2.09 billion, a P/E ratio of 67.64 and a beta of 4.20.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Sell-side analysts expect that CleanSpark will post 0.58 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.