CleanSpark (NASDAQ:CLSK) Issues Earnings Results

CleanSpark (NASDAQ:CLSK) issued its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04, Zacks reports. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%.

CleanSpark Stock Performance

CLSK opened at $11.33 on Friday. The business’s 50-day simple moving average is $11.33 and its 200 day simple moving average is $11.64. The firm has a market capitalization of $3.18 billion, a PE ratio of 103.01 and a beta of 4.24. CleanSpark has a 52-week low of $8.04 and a 52-week high of $24.72.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CLSK shares. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Friday. Finally, Macquarie increased their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, CleanSpark has a consensus rating of “Buy” and an average price target of $22.57.

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.