Cleanspark’s (CLSK) Buy Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research note published on Wednesday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

CLSK has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cleanspark in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, November 24th. Macquarie raised their price target on Cleanspark from $20.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. HC Wainwright cut their price objective on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald decreased their target price on shares of Cleanspark from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.20.

Cleanspark Stock Up 13.2%

Shares of CLSK opened at $15.23 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 4.37 and a debt-to-equity ratio of 0.30. Cleanspark has a 12 month low of $6.45 and a 12 month high of $23.61. The firm’s 50 day moving average is $15.84 and its 200-day moving average is $12.32. The stock has a market capitalization of $3.89 billion, a PE ratio of 13.72 and a beta of 3.79.

Insiders Place Their Bets

In other Cleanspark news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the transaction, the chief operating officer owned 120,337 shares in the company, valued at $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CLSK. Nuveen LLC bought a new stake in shares of Cleanspark during the first quarter worth $8,109,000. Public Sector Pension Investment Board acquired a new stake in shares of Cleanspark during the 1st quarter valued at $5,925,000. Rhumbline Advisers grew its position in Cleanspark by 115.8% during the 1st quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock worth $4,844,000 after acquiring an additional 386,809 shares during the last quarter. Swiss National Bank grew its position in Cleanspark by 13.8% during the 1st quarter. Swiss National Bank now owns 566,800 shares of the company’s stock worth $3,809,000 after acquiring an additional 68,900 shares during the last quarter. Finally, Mutual of America Capital Management LLC acquired a new position in Cleanspark in the 1st quarter worth about $272,000. Institutional investors own 43.12% of the company’s stock.

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.