CleanSpark (CLSK) to Release Earnings on Thursday

CleanSpark (NASDAQ:CLSK) will release its earnings data after the market closes on Thursday, May 9th. Analysts expect CleanSpark to post earnings of $0.06 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, topping 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 firm had revenue of $73.79 million during the quarter, compared to analysts’ expectations of $66.06 million. On average, analysts expect CleanSpark to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CleanSpark Price Performance

NASDAQ:CLSK opened at $16.54 on Wednesday. CleanSpark has a 12 month low of $3.38 and a 12 month high of $24.72. The business’s 50-day moving average is $17.62 and its two-hundred day moving average is $12.05.

Insider Buying and Selling

In related news, Chairman S. Matthew Schultz sold 367,000 shares of CleanSpark stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the completion of the transaction, the chairman now directly owns 2,298,975 shares in the company, valued at $53,037,353.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of CleanSpark stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total value of $549,286.92. Following the completion of the transaction, the chief financial officer now directly owns 554,391 shares in the company, valued at $11,603,403.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman S. Matthew Schultz sold 367,000 shares of CleanSpark stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the completion of the transaction, the chairman now owns 2,298,975 shares of the company’s stock, valued at $53,037,353.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,169,620 shares of company stock worth $24,963,509. Corporate insiders own 3.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. BTIG Research increased their price objective on shares of CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Chardan Capital reaffirmed a “buy” rating and set a $26.00 price target on shares of CleanSpark in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Monday, April 15th. TheStreet upgraded CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. raised their target price on CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.22.

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.