Chardan Capital Reiterates Buy Rating for CleanSpark (NASDAQ:CLSK)

Chardan Capital restated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of CleanSpark from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. BTIG Research upped their target price on shares of CleanSpark from $12.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. HC Wainwright reissued a buy rating and issued a $27.00 price target on shares of CleanSpark in a report on Monday, April 15th. Cantor Fitzgerald upped their price objective on CleanSpark from $10.00 to $20.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Finally, TheStreet raised CleanSpark from a d rating to a c- rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $19.22.

CleanSpark Trading Down 5.1 %

NASDAQ:CLSK opened at $16.54 on Tuesday. CleanSpark has a 1 year low of $3.38 and a 1 year high of $24.72. The firm has a 50 day moving average of $17.62 and a 200-day moving average of $12.05.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million during the quarter, compared to the consensus estimate of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, equities research analysts predict that CleanSpark will post -0.3 earnings per share for the current year.

Insider Activity at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the sale, the chief executive officer now owns 2,795,863 shares in the company, valued at approximately $56,783,977.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the transaction, the chief executive officer now owns 2,795,863 shares in the company, valued at $56,783,977.53. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total value of $549,286.92. Following the completion of the sale, the chief financial officer now directly owns 554,391 shares of the company’s stock, valued at $11,603,403.63. The disclosure for this sale can be found here. Insiders have sold 1,169,620 shares of company stock worth $24,963,509 over the last ninety days. Company insiders own 3.46% of the company’s stock.

Hedge Funds Weigh In On CleanSpark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tobam raised its stake in 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. Scotia Capital Inc. increased its holdings in shares of CleanSpark by 14.5% in the fourth quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock worth $130,000 after acquiring an additional 1,500 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of CleanSpark during the first quarter worth about $32,000. VitalStone Financial LLC lifted its holdings in shares of CleanSpark by 21.7% during the 4th quarter. VitalStone Financial LLC now owns 10,825 shares of the company’s stock valued at $119,000 after purchasing an additional 1,930 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of CleanSpark by 25.4% in the 4th quarter. Amalgamated Bank now owns 13,197 shares of the company’s stock valued at $146,000 after purchasing an additional 2,671 shares during the period. 43.12% of the stock is owned by 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.