Analysts Set CleanSpark, Inc. (NASDAQ:CLSK) PT at $19.22

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One 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 analysts that have issued ratings on the stock in the last year is $19.22.

CLSK has been the subject of a number of research reports. Cantor Fitzgerald upped their price objective on CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. Chardan Capital raised their target price on shares of CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, March 4th. BTIG Research boosted their price target on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Monday, April 15th.

Insider Activity

In related news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the sale, the director now owns 141,381 shares in the company, valued at approximately $2,523,650.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Roger Paul Beynon sold 10,976 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total value of $549,286.92. Following the completion of the transaction, the chief financial officer now owns 554,391 shares of the company’s stock, valued at approximately $11,603,403.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,169,620 shares of company stock worth $24,963,509. Corporate insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On CleanSpark

Several hedge funds have recently bought and sold shares of CLSK. DekaBank Deutsche Girozentrale acquired a new position in CleanSpark during the 3rd quarter worth approximately $30,000. American Capital Advisory LLC acquired a new stake in shares of CleanSpark in the 1st quarter worth about $32,000. VitalStone Financial LLC lifted its position in CleanSpark by 952.7% in the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock valued at $33,000 after purchasing an additional 8,050 shares during the last quarter. Tucker Asset Management LLC acquired a new position in CleanSpark during the 3rd quarter valued at about $38,000. Finally, Scotia Capital Inc. bought a new position in CleanSpark in the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Price Performance

Shares of CleanSpark stock opened at $16.38 on Friday. CleanSpark has a 12-month low of $3.33 and a 12-month high of $24.72. The company’s fifty day simple moving average is $17.79 and its two-hundred day simple moving average is $11.61.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The business had revenue of $73.79 million during the quarter, compared to analyst estimates of $66.06 million. As a group, equities analysts forecast that CleanSpark will post -0.3 EPS for the current fiscal year.

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.