CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report)’s stock price rose 8% during mid-day trading on Wednesday . The company traded as high as $11.25 and last traded at $11.18. Approximately 12,876,219 shares were traded during trading, a decline of 41% from the average daily volume of 21,899,061 shares. The stock had previously closed at $10.35.
Analysts Set New Price Targets
A number of brokerages recently commented on CLSK. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. Macquarie raised their price objective on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, CleanSpark currently has an average rating of “Buy” and a consensus price target of $23.17.
Get Our Latest Stock Report on CleanSpark
CleanSpark Trading Up 6.2 %
Institutional Investors Weigh In On CleanSpark
Several hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management raised its holdings in shares of CleanSpark by 33.3% in the third 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 in the last quarter. FMR LLC lifted 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 during the period. Amalgamated Bank increased 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 acquiring an additional 1,194 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of CleanSpark by 21.2% during the third 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 during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after purchasing an additional 1,709 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.
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.
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