CleanSpark, Inc. (NASDAQ:CLSK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $22.08.

A number of equities analysts have commented on CLSK shares. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Macquarie lifted their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their target price on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd.

Insider Activity at CleanSpark

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the sale, the director now directly owns 137,050 shares of the company’s stock, valued at approximately $1,266,342. This trade represents a 13.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 26,272 shares of company stock valued at $254,836. 2.99% of the stock is owned by insiders.

Institutional Trading of CleanSpark

Several large investors have recently bought and sold shares of CLSK. Geode Capital Management LLC boosted its stake in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after acquiring an additional 549,187 shares during the last quarter. State Street Corp grew its stake in CleanSpark by 4.5% in the third quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after purchasing an additional 261,195 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after purchasing an additional 208,862 shares in the last quarter. Van ECK Associates Corp increased its holdings in CleanSpark by 64.0% in the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after buying an additional 620,792 shares during the last quarter. Finally, Millennium Management LLC raised its stake in CleanSpark by 74.6% during the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after buying an additional 534,825 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $14.97 on Monday. The company’s fifty day moving average is $12.34 and its two-hundred day moving average is $13.43. CleanSpark has a 1 year low of $6.41 and a 1 year high of $24.72. The company has a market capitalization of $4.38 billion, a P/E ratio of -25.81 and a beta of 4.16.

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.