HC Wainwright Reaffirms “Buy” Rating for CleanSpark (NASDAQ:CLSK)

HC Wainwright reissued their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research note released on Monday, Benzinga reports. The brokerage currently has a $27.00 price objective on the stock. HC Wainwright also issued estimates for CleanSpark’s Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.06) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at $0.07 EPS, Q4 2025 earnings at $0.14 EPS and FY2025 earnings at $0.09 EPS.

Several other research firms have also weighed in on CLSK. JPMorgan Chase & Co. cut their target price 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. Cantor Fitzgerald cut their target price on shares of CleanSpark from $28.00 to $23.00 and set an overweight rating on the stock in a report on Monday. Finally, Chardan Capital restated a buy rating and set a $26.00 price objective on shares of CleanSpark in a report on Monday, May 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $19.30.

CleanSpark Stock Down 0.8 %

Shares of CLSK stock opened at $10.99 on Monday. CleanSpark has a 52-week low of $3.38 and a 52-week high of $24.72. The firm’s 50 day moving average price is $16.08 and its two-hundred day moving average price is $16.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares during the period. SteelPeak Wealth LLC boosted its holdings in shares of CleanSpark by 3.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock worth $589,000 after buying an additional 1,066 shares during the period. Amalgamated Bank boosted its holdings in shares of CleanSpark by 18.4% during 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 period. Tobam boosted its holdings in shares of CleanSpark by 6.4% during the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after buying an additional 1,394 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of CleanSpark by 14.5% during the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock worth $130,000 after buying an additional 1,500 shares during the period. 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.