CleanSpark’s (CLSK) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $27.00 price target on the stock.

Several other research firms have also recently issued reports on CLSK. Keefe, Bruyette & Woods started coverage on CleanSpark in a research note on Monday. They issued an “outperform” rating and a $19.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. Macquarie lifted their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark presently has an average rating of “Buy” and an average target price of $22.57.

CleanSpark Stock Performance

Shares of CLSK stock opened at $10.97 on Tuesday. The company has a market capitalization of $3.21 billion, a P/E ratio of -18.91 and a beta of 4.26. CleanSpark has a fifty-two week low of $7.64 and a fifty-two week high of $24.72. The stock has a 50 day moving average price of $11.69 and a two-hundred day moving average price of $11.91.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Monday, December 2nd. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate 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 predict that CleanSpark will post 0.18 earnings per share for the current year.

Institutional Trading of CleanSpark

A number of hedge funds have recently modified their holdings of the business. Hollencrest Capital Management lifted its position in CleanSpark by 33.3% during the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. FMR LLC boosted its position in shares of CleanSpark by 5.0% in the 3rd quarter. FMR LLC now owns 24,729 shares of the company’s stock worth $231,000 after purchasing an additional 1,170 shares in the last quarter. Amalgamated Bank grew its stake in shares of CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after buying an additional 1,194 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in CleanSpark by 21.2% during 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. Finally, Victory Capital Management Inc. raised its stake in CleanSpark by 2.6% during the third quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock valued at $635,000 after buying an additional 1,709 shares during the last quarter. 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.