CleanSpark (NASDAQ:CLSK) Shares Gap Up to $16.23

Shares of CleanSpark, Inc. (NASDAQ:CLSK) gapped up prior to trading on Friday . The stock had previously closed at $16.23, but opened at $16.73. CleanSpark shares last traded at $16.90, with a volume of 6,352,683 shares trading hands.

Analysts Set New Price Targets

CLSK has been the topic of several analyst reports. Chardan Capital upped their target price on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a report on Monday, April 15th. BTIG Research boosted their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, CleanSpark presently has an average rating of “Moderate Buy” and a consensus target price of $19.22.

CleanSpark Trading Up 6.0 %

The stock’s fifty day simple moving average is $17.52 and its 200 day simple moving average is $10.75.

CleanSpark (NASDAQ:CLSK) last announced its earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.26. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. The business had revenue of $73.79 million during the quarter, compared to analysts’ expectations of $66.06 million. As a group, equities research analysts predict that CleanSpark, Inc. will post -0.3 EPS for the current year.

Insider Transactions at CleanSpark

In other news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the sale, the director now directly owns 141,381 shares of the company’s stock, valued at $2,523,650.85. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total value of $8,997,330.00. Following the completion of the sale, the chief executive officer now directly owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the sale, the director now directly owns 141,381 shares of the company’s stock, valued at $2,523,650.85. The disclosure for this sale can be found here. Insiders sold a total of 1,169,620 shares of company stock valued at $24,963,509 over the last three months. Corporate insiders own 3.46% of the company’s stock.

Institutional Trading of CleanSpark

A number of hedge funds and other institutional investors have recently modified their holdings of CLSK. Ameritas Investment Partners Inc. boosted its position in shares of CleanSpark by 60.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock worth $25,000 after acquiring an additional 2,150 shares during the last quarter. Barclays PLC boosted its position in shares of CleanSpark by 533.2% during the fourth quarter. Barclays PLC now owns 12,253 shares of the company’s stock worth $25,000 after acquiring an additional 10,318 shares during the last quarter. State of Wyoming bought a new position in shares of CleanSpark during the second quarter worth $27,000. Lazard Asset Management LLC boosted its position in shares of CleanSpark by 3,177.3% during the third quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock worth $29,000 after acquiring an additional 7,689 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of CleanSpark during the third quarter worth $30,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.