CleanSpark (CLSK) to Release Earnings on Thursday

CleanSpark (NASDAQ:CLSK) is scheduled to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

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 the consensus estimate of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The business had revenue of $73.79 million during the quarter, compared to analysts’ expectations of $66.06 million. On average, analysts expect CleanSpark to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CleanSpark Stock Performance

Shares of NASDAQ CLSK opened at $17.43 on Tuesday. CleanSpark has a 52 week low of $3.38 and a 52 week high of $24.72. The stock’s fifty day moving average is $17.71 and its 200 day moving average is $11.96.

Insider Buying and Selling

In other CleanSpark news, Director Roger Paul Beynon sold 10,976 shares of the 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 sale, the director now owns 141,381 shares of the company’s stock, valued at approximately $2,523,650.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 sale, the chairman now owns 2,298,975 shares of the company’s stock, valued at $53,037,353.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock valued at $24,963,509 over the last ninety days. 3.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. BTIG Research increased their price target on shares of CleanSpark from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald raised their price target on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Chardan Capital boosted their target price on shares of CleanSpark from $13.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.22.

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.