CleanSpark, Inc. (NASDAQ:CLSK) Receives Consensus Recommendation of “Buy” from Analysts

CleanSpark, Inc. (NASDAQ:CLSK) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.17.

CLSK has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. Finally, Macquarie increased their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

CleanSpark Trading Down 6.3 %

CLSK opened at $10.71 on Friday. The stock’s 50-day moving average price is $12.55 and its 200 day moving average price is $12.48. CleanSpark has a 12-month low of $6.41 and a 12-month high of $24.72. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -18.47 and a beta of 4.26.

Institutional Investors Weigh In On CleanSpark

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after buying an additional 3,579 shares during the last quarter. Hollencrest Capital Management boosted its position in shares of CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of CleanSpark by 470.9% in the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares during the last quarter. KBC Group NV raised its position in shares of CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after acquiring an additional 2,190 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other 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.