CleanSpark (NASDAQ:CLSK) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a report published on Monday, Benzinga reports. They currently have a $27.00 price objective on the stock.

Several other research firms have also issued reports on CLSK. JPMorgan Chase & Co. boosted their price target on shares of CleanSpark from $14.00 to $15.00 and gave the company a neutral rating in a research report 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 upped their price target on shares of CleanSpark from $13.00 to $26.00 and gave the company a buy rating in a report on Monday, March 4th. BTIG Research upped their price target on shares of CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, Cantor Fitzgerald upped their price objective 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 research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $19.22.

CleanSpark Stock Performance

CleanSpark stock opened at $16.23 on Monday. CleanSpark has a fifty-two week low of $3.33 and a fifty-two week high of $24.72. The firm’s 50-day simple moving average is $17.34 and its 200 day simple moving average is $10.62.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. As a group, equities analysts expect that CleanSpark will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Roger Paul Beynon sold 10,976 shares of the 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 sale, the director now directly owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Roger Paul Beynon sold 10,976 shares of the firm’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 sale, the director now owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total transaction of $549,286.92. Following the sale, the chief financial officer now directly owns 554,391 shares in the company, valued at approximately $11,603,403.63. The disclosure for this sale can be found here. Insiders sold a total of 1,169,620 shares of company stock worth $24,963,509 in the last three months. 3.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CleanSpark

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CAP Partners LLC bought a new stake in CleanSpark during the 1st quarter worth approximately $767,000. Banque Cantonale Vaudoise purchased a new position in shares of CleanSpark in the first quarter valued at $109,000. Vanguard Group Inc. grew its holdings in shares of CleanSpark by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after purchasing an additional 515,314 shares in the last quarter. American International Group Inc. grew its holdings in shares of CleanSpark by 34.9% in the fourth quarter. American International Group Inc. now owns 74,458 shares of the company’s stock valued at $821,000 after purchasing an additional 19,268 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in CleanSpark by 70.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 90,723 shares of the company’s stock worth $1,001,000 after buying an additional 37,571 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

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.