Cantor Fitzgerald Trims CleanSpark (NASDAQ:CLSK) Target Price to $23.00

CleanSpark (NASDAQ:CLSK) had its target price lowered by research analysts at Cantor Fitzgerald from $28.00 to $23.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 107.58% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. lowered their target price on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Chardan Capital reaffirmed a “buy” rating and set a $26.00 price objective on shares of CleanSpark in a research note on Monday, May 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.30.

CleanSpark Price Performance

NASDAQ CLSK opened at $11.08 on Monday. The stock has a fifty day moving average of $16.18 and a 200-day moving average of $16.33. CleanSpark has a 52 week low of $3.38 and a 52 week high of $24.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC bought a new position in CleanSpark during the first quarter worth about $32,000. National Bank of Canada FI lifted its holdings in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after acquiring an additional 2,119 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after acquiring an additional 787 shares in the last quarter. Hollencrest Capital Management bought a new position in CleanSpark during the second quarter worth about $48,000. Finally, Banque Cantonale Vaudoise bought a new position in CleanSpark during the first quarter worth about $109,000. 43.12% of the stock is currently owned by 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.