CleanSpark (NASDAQ:CLSK) Rating Reiterated by HC Wainwright

CleanSpark (NASDAQ:CLSK)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $27.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 86.46% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Chardan Capital lifted their target price on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. BTIG Research raised their price target on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Cantor Fitzgerald raised their price target on shares of CleanSpark from $10.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.22.

CleanSpark Trading Down 1.4 %

NASDAQ CLSK opened at $14.48 on Monday. The firm’s 50 day simple moving average is $17.11 and its 200 day simple moving average is $10.52. CleanSpark has a 1 year low of $3.33 and a 1 year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued 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. The business had revenue of $73.79 million during the quarter, compared to the consensus estimate of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. Analysts anticipate that CleanSpark will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the transaction, the chief executive officer now directly owns 2,795,863 shares in the company, valued at $56,783,977.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman S. Matthew Schultz sold 367,000 shares of CleanSpark stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the completion of the transaction, the chairman now directly owns 2,298,975 shares in the company, valued at $53,037,353.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the transaction, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,169,620 shares of company stock worth $24,963,509. 3.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in CleanSpark by 62.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock worth $93,032,000 after purchasing an additional 3,235,171 shares during the last quarter. State Street Corp boosted its holdings in CleanSpark by 124.6% during the second quarter. State Street Corp now owns 5,563,128 shares of the company’s stock worth $23,866,000 after purchasing an additional 3,085,789 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in CleanSpark by 907.1% during the second quarter. Renaissance Technologies LLC now owns 2,203,302 shares of the company’s stock worth $9,452,000 after purchasing an additional 1,984,516 shares during the last quarter. BlackRock Inc. boosted its holdings in CleanSpark by 32.9% during the second quarter. BlackRock Inc. now owns 6,797,076 shares of the company’s stock worth $29,159,000 after purchasing an additional 1,682,954 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in CleanSpark by 21.7% during the third quarter. Vanguard Group Inc. now owns 7,533,197 shares of the company’s stock worth $28,701,000 after purchasing an additional 1,345,135 shares during the last quarter. 43.12% of the stock is currently 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.