Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) Target Price at $19.22

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $19.22.

A number of analysts have recently weighed in on CLSK shares. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a report on Monday, April 15th. Chardan Capital raised their target price on shares of CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. BTIG Research lifted their target price on CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Cantor Fitzgerald boosted their price objective on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, March 28th.

Insider Transactions at CleanSpark

In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the transaction, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Zachary Bradford sold 443,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $20.31, for a total value of $8,997,330.00. Following the transaction, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at approximately $56,783,977.53. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of CleanSpark stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the completion of the transaction, the director now owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,169,620 shares of company stock worth $24,963,509. Company insiders own 3.46% of the company’s stock.

Institutional Trading of CleanSpark

Institutional investors have recently bought and sold shares of the business. American Capital Advisory LLC purchased a new position in CleanSpark during the first quarter worth about $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of CleanSpark in the first quarter valued at about $109,000. DekaBank Deutsche Girozentrale acquired a new stake in CleanSpark during the 3rd quarter valued at $30,000. VitalStone Financial LLC increased its position in CleanSpark by 952.7% during the third quarter. VitalStone Financial LLC now owns 8,895 shares of the company’s stock worth $33,000 after buying an additional 8,050 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of CleanSpark by 100.0% during the fourth quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock worth $99,000 after buying an additional 4,500 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Trading Down 9.6 %

CLSK stock opened at $16.38 on Friday. The stock has a fifty day moving average of $17.79 and a 200-day moving average of $11.61. CleanSpark has a fifty-two week low of $3.33 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that CleanSpark will post -0.3 earnings per share for the current fiscal 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.