CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat 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 target price among brokers that have issued ratings on the stock in the last year is $10.05.
Several research analysts recently commented on the company. BTIG Research increased their price objective on CleanSpark from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Sanford C. Bernstein initiated coverage on shares of CleanSpark in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $5.30 target price on the stock. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of CleanSpark in a research report on Tuesday, February 6th. TheStreet upgraded CleanSpark from a “d” rating to a “c-” rating in a research report on Friday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of CleanSpark in a report on Friday, December 1st.
CleanSpark Stock Up 14.7 %
Insider Buying and Selling
In other news, Director Larry Mcneill sold 40,000 shares of CleanSpark stock in a transaction on Friday, December 8th. The shares were sold at an average price of $10.42, for a total transaction of $416,800.00. Following the completion of the sale, the director now directly owns 249,637 shares of the company’s stock, valued at approximately $2,601,217.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.46% of the stock is currently owned by insiders.
Institutional Trading of CleanSpark
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in CleanSpark by 60.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after acquiring an additional 2,150 shares during the period. Barclays PLC increased its stake in CleanSpark by 533.2% in the 4th quarter. Barclays PLC now owns 12,253 shares of the company’s stock valued at $25,000 after buying an additional 10,318 shares during the period. State of Wyoming purchased a new position in CleanSpark during the 2nd quarter worth $27,000. Lazard Asset Management LLC lifted its stake in shares of CleanSpark by 3,177.3% in the 3rd quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock worth $29,000 after acquiring an additional 7,689 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of CleanSpark in the third quarter valued at about $30,000. 34.06% of the stock is owned by institutional investors and hedge funds.
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.
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