HC Wainwright Cuts Cleanspark (NASDAQ:CLSK) Price Target to $27.00

Cleanspark (NASDAQ:CLSK) had its target price lowered by HC Wainwright from $30.00 to $27.00 in a report published on Wednesday, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Chardan Capital lifted their target price on Cleanspark from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 13th. B. Riley raised their price target on Cleanspark from $17.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Cantor Fitzgerald dropped their price objective on shares of Cleanspark from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cleanspark in a research note on Wednesday, October 8th. Finally, Macquarie raised their target price on shares of Cleanspark from $20.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cleanspark has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Cleanspark Trading Up 13.2%

Shares of NASDAQ CLSK opened at $15.23 on Wednesday. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.37. The business’s 50 day moving average is $15.84 and its two-hundred day moving average is $12.32. The stock has a market capitalization of $3.89 billion, a P/E 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 the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total value of $581,062.56. Following the sale, the chief operating officer owned 120,337 shares in the company, valued at $1,097,473.44. This trade represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its stake in Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares during the period. Quarry LP purchased a new stake in Cleanspark in the 3rd quarter valued at about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Cleanspark in the 2nd quarter worth about $29,000. Fifth Third Bancorp increased its position in shares of Cleanspark by 145.3% during the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after acquiring an additional 1,694 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of Cleanspark during the third quarter valued at approximately $32,000. 43.12% of the stock is currently owned by institutional investors.

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.