Chardan Capital Reaffirms Buy Rating for CleanSpark (NASDAQ:CLSK)

Chardan Capital restated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $26.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. TheStreet raised CleanSpark from a d rating to a c- rating in a research report on Friday, February 9th. Cantor Fitzgerald lifted their target price on CleanSpark from $10.00 to $20.00 and gave the stock an overweight rating in a report on Thursday, March 28th. JPMorgan Chase & Co. upped their price target on shares of CleanSpark from $14.00 to $15.00 and gave the company a neutral rating in a research note on Wednesday, April 10th. HC Wainwright reaffirmed a buy rating and set a $27.00 price target on shares of CleanSpark in a research report on Monday, April 15th. Finally, BTIG Research boosted their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CleanSpark has an average rating of Moderate Buy and a consensus price target of $19.22.

CleanSpark Stock Up 1.3 %

Shares of CleanSpark stock opened at $16.59 on Tuesday. CleanSpark has a 1 year low of $3.38 and a 1 year high of $24.72. The business has a fifty day simple moving average of $17.59 and a two-hundred day simple moving average of $12.11.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping 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%. Sell-side analysts predict that CleanSpark will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 10,976 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the transaction, the director now directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman S. Matthew Schultz sold 367,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares of the company’s stock, valued at $53,037,353.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the transaction, the director now directly owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold 1,169,620 shares of company stock worth $24,963,509 over the last ninety days. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On CleanSpark

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

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.