CleanSpark (NASDAQ:CLSK) Price Target Increased to $20.00 by Analysts at Cantor Fitzgerald

CleanSpark (NASDAQ:CLSK) had its price target boosted by Cantor Fitzgerald from $10.00 to $20.00 in a research report report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

CLSK has been the topic of several other reports. Chardan Capital upped their price target on CleanSpark from $13.00 to $26.00 and gave the stock a buy rating in a research note on Monday, March 4th. BTIG Research increased their target price on CleanSpark from $12.00 to $22.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. TheStreet raised CleanSpark from a d rating to a c- rating in a research note on Friday, February 9th. HC Wainwright reissued a buy rating and issued a $27.00 target price on shares of CleanSpark in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a $8.00 price objective (down from $9.00) on shares of CleanSpark in a research report on Friday, December 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, CleanSpark presently has a consensus rating of Moderate Buy and a consensus target price of $18.05.

CleanSpark Trading Down 8.2 %

Shares of CLSK stock opened at $21.21 on Thursday. CleanSpark has a fifty-two week low of $2.38 and a fifty-two week high of $24.72. The stock has a 50 day moving average price of $15.06 and a two-hundred day moving average price of $9.42.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million during the quarter, compared to the consensus estimate of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, analysts predict that CleanSpark will post -0.3 earnings per share for the current year.

Insider Buying and Selling at CleanSpark

In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the completion of the transaction, the chairman now owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Roger Paul Beynon sold 10,976 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,169,620 shares of company stock valued at $24,963,509. 3.46% of the stock is owned by company insiders.

Institutional Trading of CleanSpark

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in CleanSpark by 60.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock worth $25,000 after acquiring an additional 2,150 shares during the period. State of Wyoming acquired a new stake in CleanSpark during the second quarter worth about $27,000. Advisory Services Network LLC acquired a new stake in CleanSpark during the fourth quarter worth about $83,000. DekaBank Deutsche Girozentrale purchased a new position in CleanSpark during the third quarter worth approximately $30,000. Finally, Lazard Asset Management LLC boosted its position in CleanSpark by 3,177.3% during the third quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock worth $29,000 after purchasing an additional 7,689 shares in the last quarter. 43.12% of the stock is owned by institutional investors and hedge funds.

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.