CleanSpark, Inc. (NASDAQ:CLSK) Receives $23.17 Consensus Price Target from Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been assigned a consensus recommendation of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $23.17.

Several research analysts recently issued reports on CLSK shares. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Tuesday, December 3rd. Macquarie raised their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in CleanSpark in the 3rd quarter worth approximately $374,000. Kovitz Investment Group Partners LLC raised its stake in shares of CleanSpark by 85.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock worth $1,727,000 after purchasing an additional 85,388 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CleanSpark by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after purchasing an additional 208,862 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of CleanSpark during the third quarter valued at $1,960,000. Finally, Clarity Capital Partners LLC boosted its position in shares of CleanSpark by 100.8% during the third quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after buying an additional 87,891 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Up 14.3 %

CLSK opened at $10.80 on Friday. The company has a market cap of $3.16 billion, a price-to-earnings ratio of -18.62 and a beta of 4.16. The stock has a fifty day simple moving average of $12.60 and a two-hundred day simple moving average of $12.63. CleanSpark has a 12-month low of $6.41 and a 12-month high of $24.72.

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.