Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) PT at $20.13

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $20.13.

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of CleanSpark from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 3rd. Chardan Capital reiterated a “buy” rating and issued a $26.00 price target on shares of CleanSpark in a report on Monday, May 13th. JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating on the stock in a report on Tuesday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, June 28th.

Institutional Investors Weigh In On CleanSpark

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of CleanSpark by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 7,533,197 shares of the company’s stock valued at $28,701,000 after buying an additional 1,345,135 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of CleanSpark by 22.6% during the 4th quarter. SG Americas Securities LLC now owns 53,618 shares of the company’s stock valued at $591,000 after buying an additional 9,884 shares in the last quarter. Bellecapital International Ltd. purchased a new position in shares of CleanSpark during the 4th quarter valued at approximately $215,000. Arizona State Retirement System lifted its position in shares of CleanSpark by 40.0% during the 4th quarter. Arizona State Retirement System now owns 42,671 shares of the company’s stock valued at $471,000 after buying an additional 12,190 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of CleanSpark by 119.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company’s stock valued at $19,384,000 after buying an additional 957,372 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Trading Down 10.5 %

Shares of CleanSpark stock opened at $17.07 on Friday. The company has a 50-day simple moving average of $16.90 and a two-hundred day simple moving average of $15.52. CleanSpark has a one year low of $3.38 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. The firm had revenue of $111.80 million for the quarter, compared to the consensus estimate of $111.11 million. As a group, sell-side analysts anticipate that CleanSpark will post -0.09 earnings per share for the current year.

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.