Analysts Set CleanSpark, Inc. (NASDAQ:CLSK) Price Target at $22.08

CleanSpark, Inc. (NASDAQ:CLSK) has been assigned an average rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $23.17.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.50 to $17.00 in a report on Tuesday. Macquarie boosted their target price on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd.

Institutional Investors Weigh In On CleanSpark

Several large investors have recently added to or reduced their stakes in CLSK. Cetera Advisors LLC grew its stake in CleanSpark by 73.4% in the 1st quarter. Cetera Advisors LLC now owns 19,892 shares of the company’s stock valued at $422,000 after buying an additional 8,417 shares in the last quarter. SG Americas Securities LLC boosted its stake in CleanSpark by 178.4% during the second quarter. SG Americas Securities LLC now owns 265,084 shares of the company’s stock valued at $4,228,000 after buying an additional 169,861 shares during the period. Baader Bank Aktiengesellschaft purchased a new position in CleanSpark during the second quarter worth about $185,000. SteelPeak Wealth LLC grew its position in CleanSpark by 3.0% during the second quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock worth $589,000 after buying an additional 1,066 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in shares of CleanSpark in the 2nd quarter valued at about $262,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Down 0.9 %

Shares of NASDAQ:CLSK opened at $12.83 on Monday. The stock has a market cap of $3.75 billion, a PE ratio of -22.12 and a beta of 4.16. The stock’s fifty day simple moving average is $12.59 and its two-hundred day simple moving average is $13.37. CleanSpark has a 1-year low of $6.41 and a 1-year high of $24.72.

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.