CleanSpark’s (CLSK) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report report published on Friday morning, Benzinga reports. HC Wainwright currently has a $27.00 target price on the stock.

Other research analysts also recently issued reports about the company. BTIG Research increased their price objective on CleanSpark from $12.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, March 19th. Cantor Fitzgerald raised shares of CleanSpark to a strong-buy rating in a research note on Wednesday, June 12th. Chardan Capital reiterated a buy rating and issued a $26.00 price objective on shares of CleanSpark in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CleanSpark from $15.00 to $12.50 and set a neutral rating for the company in a report on Tuesday, June 4th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $19.97.

CleanSpark Trading Down 0.6 %

CleanSpark stock opened at $15.95 on Friday. CleanSpark has a twelve month low of $3.38 and a twelve month high of $24.72. The company has a 50 day moving average of $17.18 and a 200-day moving average of $14.99.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The firm had revenue of $111.80 million during the quarter, compared to analyst estimates of $111.11 million. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. As a group, analysts anticipate that CleanSpark will post -0.09 EPS for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

A number of institutional investors and hedge funds have recently made changes to their positions in CLSK. SRN Advisors LLC acquired a new position in CleanSpark during the first quarter worth $1,405,000. Cetera Advisors LLC increased its stake in shares of CleanSpark by 73.4% during the 1st quarter. Cetera Advisors LLC now owns 19,892 shares of the company’s stock worth $422,000 after purchasing an additional 8,417 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of CleanSpark in the 1st quarter valued at about $237,000. Comerica Bank acquired a new stake in CleanSpark in the 1st quarter valued at about $1,894,000. Finally, California State Teachers Retirement System lifted its stake in CleanSpark by 15.7% in the 1st quarter. California State Teachers Retirement System now owns 185,781 shares of the company’s stock valued at $3,940,000 after purchasing an additional 25,145 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

About CleanSpark

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.