Cleanspark, Inc. (NASDAQ:CLSK) Given Consensus Recommendation of “Buy” by Analysts

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned an average rating of “Buy” from the ten research firms that are presently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.4722.

Several equities analysts have commented on CLSK shares. Cantor Fitzgerald increased their price target on Cleanspark from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, August 8th. BTIG Research reiterated a “buy” rating on shares of Cleanspark in a report on Friday, June 13th. Macquarie increased their price target on Cleanspark from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Cleanspark in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Cleanspark from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, July 28th.

Insider Activity

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of Cleanspark stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the completion of the sale, the director directly owned 125,511 shares in the company, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.65% of the stock is owned by company insiders.

Institutional Trading of Cleanspark

Hedge funds have recently bought and sold shares of the business. CX Institutional bought a new stake in shares of Cleanspark during the 1st quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cleanspark during the second quarter worth about $29,000. Fifth Third Bancorp grew its position in Cleanspark by 145.3% during the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after buying an additional 1,694 shares in the last quarter. Strs Ohio purchased a new position in Cleanspark during the first quarter worth about $38,000. Finally, Quarry LP purchased a new position in Cleanspark during the first quarter worth about $47,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Trading Down 2.0%

CLSK stock opened at $9.75 on Friday. Cleanspark has a one year low of $6.45 and a one year high of $17.97. The firm has a market capitalization of $2.74 billion, a PE ratio of 11.47 and a beta of 3.72. The firm has a 50-day moving average of $11.02 and a two-hundred day moving average of $9.53.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.71. The business had revenue of $198.64 million during the quarter, compared to analyst estimates of $191.33 million. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The firm’s revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.03) earnings per share. On average, equities research analysts anticipate that Cleanspark will post 0.58 earnings per share for the current year.

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.