CleanSpark (NASDAQ:CLSK) Now Covered by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of CleanSpark (NASDAQ:CLSK) in a research report released on Monday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $19.00 price objective on the stock.

Several other analysts have also recently commented on the stock. Macquarie boosted their price target on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $22.57.

CleanSpark Stock Down 10.6 %

Shares of NASDAQ CLSK opened at $10.31 on Monday. CleanSpark has a twelve month low of $7.64 and a twelve month high of $24.72. The firm has a market cap of $3.02 billion, a P/E ratio of -17.78 and a beta of 4.26. The company has a 50 day moving average of $11.95 and a 200 day moving average of $12.00.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.02). CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. As a group, equities analysts expect that CleanSpark will post 0.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CleanSpark

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares during the period. Hollencrest Capital Management grew its holdings in CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. KBC Group NV boosted its holdings in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after buying an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.