CleanSpark (NASDAQ:CLSK) Stock Rating Reaffirmed by Cantor Fitzgerald

CleanSpark (NASDAQ:CLSK)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $10.00 price target on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 122.22% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. HC Wainwright upped their target price on shares of CleanSpark from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Chardan Capital upped their price target on shares of CleanSpark from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 11th. TheStreet raised CleanSpark from a “d” rating to a “c-” rating in a research note on Tuesday, August 1st. Finally, BTIG Research boosted their target price on CleanSpark from $8.00 to $10.00 in a research report on Tuesday, July 18th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $11.25.

CleanSpark Stock Down 1.5 %

CLSK traded down $0.07 during midday trading on Tuesday, reaching $4.50. The company had a trading volume of 2,159,005 shares, compared to its average volume of 7,877,248. CleanSpark has a 12-month low of $1.74 and a 12-month high of $7.60. The business has a 50-day moving average price of $5.59 and a two-hundred day moving average price of $4.25.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. CleanSpark had a negative return on equity of 21.78% and a negative net margin of 73.22%. The company had revenue of $45.52 million during the quarter, compared to analyst estimates of $46.20 million. As a group, equities analysts expect that CleanSpark will post -0.92 earnings per share for the current year.

Institutional Trading of CleanSpark

A number of hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake in CleanSpark by 8.9% in the first quarter. American International Group Inc. now owns 19,814 shares of the company’s stock valued at $245,000 after acquiring an additional 1,612 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of CleanSpark by 60.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after buying an additional 2,150 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CleanSpark by 18.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,374 shares of the company’s stock valued at $46,000 after buying an additional 2,574 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CleanSpark by 14.1% in the 1st quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock worth $268,000 after buying an additional 2,678 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in CleanSpark by 21.1% in the second quarter. Royal Bank of Canada now owns 25,224 shares of the company’s stock worth $108,000 after buying an additional 4,395 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

CleanSpark Company Profile

CleanSpark, Inc engages in bitcoin mining operations. It develops sustainable infrastructure for Bitcoin, a tool for financial independence and inclusion. The company also provides traditional data center services to its clients, such as providing customers with rack space, power, and equipment, as well as cloud services, including virtual services, virtual storage, and data backup services.