CleanSpark (NASDAQ:CLSK) Coverage Initiated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods initiated coverage on shares of CleanSpark (NASDAQ:CLSK) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 64.79% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. Macquarie upped their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and raised their target price for the company from $10.50 to $17.00 in a research note on Tuesday, December 10th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.57.

CleanSpark Trading Up 1.1 %

CLSK opened at $11.53 on Monday. CleanSpark has a 1-year low of $6.95 and a 1-year high of $24.72. The stock has a market capitalization of $3.37 billion, a PE ratio of -19.88 and a beta of 4.26. The firm has a 50-day moving average price of $11.95 and a two-hundred day moving average price of $12.00.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. On average, research analysts predict that CleanSpark will post 0.18 EPS for the current year.

Institutional Investors Weigh In On CleanSpark

Large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of CleanSpark in the 3rd quarter valued at approximately $374,000. Kovitz Investment Group Partners LLC lifted its stake in CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after buying an additional 85,388 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CleanSpark by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after buying an additional 208,862 shares during the period. Quantbot Technologies LP bought a new stake in shares of CleanSpark during the third quarter worth $1,960,000. Finally, Clarity Capital Partners LLC increased its position in shares of CleanSpark by 100.8% during the third quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock worth $1,635,000 after acquiring an additional 87,891 shares in the last quarter. 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.