CleanSpark (NASDAQ:CLSK) Given “Buy” Rating at HC Wainwright

CleanSpark (NASDAQ:CLSK)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $27.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 160.12% from the company’s current price.

Several other research firms have also recently issued reports on CLSK. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research report on Monday, January 27th. They set an “outperform” rating and a $19.00 price objective for the company. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Finally, Macquarie lifted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Seven 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 price target of $22.57.

CleanSpark Stock Up 0.7 %

NASDAQ:CLSK opened at $10.38 on Friday. The company has a fifty day simple moving average of $11.40 and a two-hundred day simple moving average of $11.64. The company has a market cap of $2.91 billion, a price-to-earnings ratio of -17.90 and a beta of 4.25. CleanSpark has a 52 week low of $8.04 and a 52 week high of $24.72.

CleanSpark (NASDAQ:CLSK) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. On average, analysts expect that CleanSpark will post 0.18 EPS for the current year.

Hedge Funds Weigh In On CleanSpark

Several large investors have recently bought and sold shares of the stock. Hollencrest Capital Management boosted its stake in shares of CleanSpark by 33.3% during the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. FMR LLC boosted its stake in shares of CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after buying an additional 1,170 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of 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 buying an additional 1,345 shares during the period. Victory Capital Management Inc. boosted its stake in shares of CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after buying an additional 1,709 shares during the period. Finally, Sigma Planning Corp boosted its stake in shares of CleanSpark by 11.9% during the fourth quarter. Sigma Planning Corp now owns 17,518 shares of the company’s stock worth $161,000 after buying an additional 1,865 shares during the period. Institutional investors and hedge funds 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.