Analysts Set CleanSpark, Inc. (NASDAQ:CLSK) PT at $21.57

CleanSpark, Inc. (NASDAQ:CLSK) has earned an average rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $21.57.

CLSK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods assumed coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price for the company. Needham & Company LLC assumed coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They set a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of CleanSpark from $17.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Chardan Capital upgraded shares of CleanSpark to a “strong-buy” rating in a research note on Monday, March 24th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th.

Insider Transactions at CleanSpark

In other news, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $10.64, for a total value of $95,866.40. Following the transaction, the chairman now owns 2,450,010 shares of the company’s stock, valued at $26,068,106.40. This represents a 0.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amanda Cavaleri sold 13,000 shares of CleanSpark stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the sale, the director now directly owns 140,289 shares of the company’s stock, valued at $1,118,103.33. This represents a 8.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,836 shares of company stock valued at $335,945. 2.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CleanSpark

A number of large investors have recently added to or reduced their stakes in CLSK. CX Institutional purchased a new position in shares of CleanSpark in the 1st quarter worth about $26,000. Compagnie Lombard Odier SCmA purchased a new stake in CleanSpark in the fourth quarter worth approximately $31,000. GAMMA Investing LLC grew its position in CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of CleanSpark by 60.0% during the fourth quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock worth $54,000 after acquiring an additional 2,196 shares in the last quarter. Finally, Truefg LLC bought a new stake in shares of CleanSpark in the 1st quarter worth approximately $84,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Price Performance

Shares of NASDAQ:CLSK opened at $7.28 on Friday. The company has a market capitalization of $2.04 billion, a PE ratio of 66.19 and a beta of 4.12. CleanSpark has a 1 year low of $6.45 and a 1 year high of $21.39. The business has a fifty day moving average price of $8.36 and a two-hundred day moving average price of $10.52.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Sell-side analysts anticipate that CleanSpark will post 0.58 earnings per share for the current 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.