CleanSpark, Inc. (NASDAQ:CLSK) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $21.42.

CLSK has been the topic of a number of research reports. 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. JPMorgan Chase & Co. reduced their price objective on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a report on Friday, August 23rd. Macquarie assumed coverage on shares of CleanSpark in a report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Wednesday, September 25th.

CleanSpark Stock Down 4.6 %

Shares of NASDAQ:CLSK opened at $13.38 on Thursday. The business has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $13.70. CleanSpark has a 12-month low of $4.04 and a 12-month high of $24.72.

Insider Transactions at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the transaction, the director now owns 137,050 shares in the company, valued at approximately $1,266,342. This represents a 13.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 26,272 shares of company stock worth $250,003 in the last 90 days. Insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLSK. Swiss National Bank boosted its position in CleanSpark by 21.3% during the first quarter. Swiss National Bank now owns 364,800 shares of the company’s stock worth $7,737,000 after purchasing an additional 64,000 shares during the period. Russell Investments Group Ltd. grew its stake in CleanSpark by 36.8% in 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 in the last quarter. ProShare Advisors LLC raised its holdings in CleanSpark by 39.8% during the 1st quarter. ProShare Advisors LLC now owns 34,654 shares of the company’s stock valued at $735,000 after acquiring an additional 9,858 shares during the period. Vanguard Group Inc. lifted its position in shares of CleanSpark by 58.5% during the first quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after acquiring an additional 4,706,738 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of CleanSpark by 24.1% in the first quarter. Ameritas Investment Partners Inc. now owns 19,238 shares of the company’s stock worth $408,000 after acquiring an additional 3,732 shares during the period. Institutional investors 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.