CleanSpark (NASDAQ:CLSK) Now Covered by Chardan Capital

Posted by on Jun 3rd, 2022

Investment analysts at Chardan Capital started coverage on shares of CleanSpark (NASDAQ:CLSK – Get Rating) in a report issued on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Chardan Capital’s price objective points to a potential upside of 105.13% from the stock’s previous close.

A number of other brokerages have also issued reports on CLSK. BTIG Research decreased their target price on shares of CleanSpark from $30.00 to $10.00 in a research note on Friday. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of CleanSpark in a research note on Monday, May 16th. Finally, Zacks Investment Research lowered shares of CleanSpark from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 19th.

CleanSpark stock opened at $5.85 on Friday. The company has a 50 day moving average price of $8.12 and a 200 day moving average price of $9.91. CleanSpark has a 52 week low of $4.53 and a 52 week high of $23.60. The firm has a market capitalization of $241.55 million, a price-to-earnings ratio of -20.17 and a beta of 4.79.

CleanSpark (NASDAQ:CLSK – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. CleanSpark had a negative net margin of 6.34% and a positive return on equity of 3.21%. During the same period last year, the business posted $0.05 earnings per share. Equities analysts expect that CleanSpark will post 0.41 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CLSK. Morgan Stanley raised its holdings in shares of CleanSpark by 90.8% during the 2nd quarter. Morgan Stanley now owns 160,499 shares of the company’s stock valued at $2,670,000 after purchasing an additional 76,359 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of CleanSpark by 867.0% during the 2nd quarter. Bank of America Corp DE now owns 21,592 shares of the company’s stock valued at $359,000 after purchasing an additional 19,359 shares in the last quarter. Invesco Ltd. bought a new position in shares of CleanSpark during the 2nd quarter valued at $250,000. Citigroup Inc. raised its holdings in shares of CleanSpark by 144.8% during the 3rd quarter. Citigroup Inc. now owns 3,888 shares of the company’s stock valued at $45,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of CleanSpark by 386.3% during the 3rd quarter. Goldman Sachs Group Inc. now owns 53,079 shares of the company’s stock valued at $615,000 after purchasing an additional 42,164 shares in the last quarter. Institutional investors and hedge funds own 30.57% of the company’s stock.

CleanSpark Company Profile (Get Rating)

CleanSpark, Inc provides bitcoin mining and energy technology solutions worldwide. It operates in two segments, Digital Currency Mining and Energy. The Digital Currency Mining segment engages in mining of bitcoin. The energy segment provides engineering, design and software, custom hardware, open automated demand response, solar, and energy storage solutions for microgrids and distributed energy systems to military, commercial, and residential customers; and develops platforms that enables designing, building, operating, and managing of energy assets.

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