CleanSpark (NASDAQ:CLSK) PT Raised to $28.00 at Cantor Fitzgerald

CleanSpark (NASDAQ:CLSK) had its price objective lifted by stock analysts at Cantor Fitzgerald from $27.00 to $28.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 73.37% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Friday, June 28th. JPMorgan Chase & Co. cut their price objective on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, June 4th. BTIG Research boosted their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Chardan Capital restated a “buy” rating and issued a $26.00 target price on shares of CleanSpark in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.13.

CleanSpark Stock Down 4.6 %

Shares of CleanSpark stock opened at $16.15 on Wednesday. The company has a fifty day moving average price of $16.94 and a 200 day moving average price of $15.18. CleanSpark has a twelve month low of $3.38 and a twelve month high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. The firm had revenue of $111.80 million for the quarter, compared to analyst estimates of $111.11 million. Equities research analysts expect that CleanSpark will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

Institutional investors have recently modified their holdings of the stock. American Capital Advisory LLC bought a new stake in shares of CleanSpark during the 1st quarter valued at about $32,000. VitalStone Financial LLC grew its position in shares of CleanSpark by 952.7% during the 3rd quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock valued at $33,000 after buying an additional 8,050 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of CleanSpark during the 3rd quarter valued at about $38,000. Scotia Capital Inc. bought a new stake in shares of CleanSpark during the 3rd quarter valued at about $39,000. Finally, Russell Investments Group Ltd. grew its position in shares of CleanSpark by 36.8% during the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after buying an additional 787 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

About CleanSpark

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.