Cleanspark, Inc. (NASDAQ:CLSK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Cleanspark, Inc. (NASDAQ:CLSK) has received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.2045.

A number of brokerages have commented on CLSK. Weiss Ratings reissued a “hold (c-)” rating on shares of Cleanspark in a research note on Monday. HC Wainwright cut their target price on Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Sanford C. Bernstein boosted their price target on shares of Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Chardan Capital restated a “buy” rating and set a $30.00 price objective on shares of Cleanspark in a report on Wednesday, November 26th. Finally, Macquarie dropped their price objective on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th.

Cleanspark Stock Performance

Shares of CLSK opened at $11.20 on Friday. Cleanspark has a one year low of $6.45 and a one year high of $23.61. The company has a market cap of $2.86 billion, a PE ratio of 10.09 and a beta of 3.79. The stock has a 50-day moving average of $15.27 and a 200-day moving average of $12.71. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18.

Insiders Place Their Bets

In related news, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the transaction, the director owned 107,289 shares of the company’s stock, valued at approximately $1,611,480.78. This trade represents a 23.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLSK. Vanguard Group Inc. grew its holdings in Cleanspark by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock worth $377,752,000 after buying an additional 769,148 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cleanspark by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 7,536,772 shares of the company’s stock worth $83,139,000 after acquiring an additional 101,401 shares during the last quarter. Invesco Ltd. boosted its holdings in Cleanspark by 22.1% during the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock worth $64,997,000 after acquiring an additional 810,203 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Cleanspark by 13.3% in the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock worth $63,313,000 after acquiring an additional 514,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cleanspark by 57.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after purchasing an additional 1,564,761 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

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.