CleanSpark, Inc. (NASDAQ:CLSK) Receives $22.08 Consensus Target Price from Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.17.

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Tuesday, December 3rd. Macquarie upped their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.50 to $17.00 in a report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd.

CleanSpark Stock Down 0.9 %

CLSK opened at $12.83 on Monday. The business’s fifty day simple moving average is $12.59 and its 200 day simple moving average is $13.37. CleanSpark has a 52 week low of $6.41 and a 52 week high of $24.72. The stock has a market cap of $3.75 billion, a PE ratio of -22.12 and a beta of 4.16.

Institutional Trading of CleanSpark

Several large investors have recently modified their holdings of the business. National Bank of Canada FI increased its stake in shares of CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after buying an additional 2,119 shares during the period. Hollencrest Capital Management bought a new stake in CleanSpark in the second quarter valued at $48,000. KBC Group NV increased its position in CleanSpark by 42.0% during the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after purchasing an additional 2,190 shares during the period. Amalgamated Bank raised its holdings in CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after purchasing an additional 1,194 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the period. 43.12% of the stock is owned by institutional investors.

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.