CleanSpark, Inc. (NASDAQ:CLSK) Given Consensus Rating of “Buy” by Analysts

CleanSpark, Inc. (NASDAQ:CLSK) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.17.

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

CleanSpark Stock Up 2.6 %

NASDAQ CLSK opened at $9.45 on Friday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -16.29 and a beta of 4.16. The company has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $12.74. CleanSpark has a 12-month low of $6.41 and a 12-month high of $24.72.

Hedge Funds Weigh In On CleanSpark

A number of hedge funds have recently bought and sold shares of CLSK. Hollencrest Capital Management raised its stake in 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 buying an additional 1,000 shares during the last quarter. FMR LLC grew its holdings in shares of CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after acquiring an additional 1,170 shares during the period. Amalgamated Bank increased its position in CleanSpark by 18.4% during 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 last quarter. 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 valued at $75,000 after acquiring an additional 1,345 shares during the period. Finally, Victory Capital Management Inc. boosted its position in CleanSpark by 2.6% in the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after purchasing an additional 1,709 shares during the last quarter. Hedge funds and other 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.