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

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.42.

CLSK has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research report on Friday, August 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. Finally, Macquarie assumed coverage on CleanSpark in a research note on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target for the company.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 22,222 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total value of $205,331.28. Following the completion of the transaction, the director now directly owns 137,050 shares in the company, valued at approximately $1,266,342. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 26,272 shares of company stock worth $250,003 over the last 90 days. Corporate insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On CleanSpark

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management increased its stake in CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after purchasing an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after purchasing an additional 787 shares during the last quarter. KBC Group NV raised its position in CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Trading Down 15.0 %

NASDAQ:CLSK opened at $14.98 on Thursday. CleanSpark has a twelve month low of $3.67 and a twelve month high of $24.72. The company has a fifty day moving average of $10.67 and a 200-day moving average of $13.76.

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.