CleanSpark (NASDAQ:CLSK) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CleanSpark (NASDAQ:CLSK) from a neutral rating to an overweight rating in a research report report published on Tuesday, MarketBeat.com reports. The firm currently has $17.00 target price on the stock, up from their previous target price of $10.50.

CLSK has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Macquarie upped their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.17.

CleanSpark Stock Down 3.9 %

Shares of NASDAQ CLSK opened at $12.33 on Tuesday. CleanSpark has a 12 month low of $6.41 and a 12 month high of $24.72. The company has a market cap of $3.61 billion, a P/E ratio of -21.26 and a beta of 4.16. The business’s 50 day moving average is $12.66 and its two-hundred day moving average is $13.36.

Institutional Trading of CleanSpark

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management boosted its holdings in CleanSpark by 33.3% during the third 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. SteelPeak Wealth LLC boosted its stake in CleanSpark by 3.0% in the 2nd quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after buying an additional 1,066 shares in the last quarter. FMR LLC grew its position in CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after acquiring an additional 1,170 shares during the period. Amalgamated Bank grew its position in CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after acquiring an additional 1,194 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after acquiring an additional 1,345 shares in the last quarter. 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.