CleanSpark (NASDAQ:CLSK) PT Raised to $15.00

CleanSpark (NASDAQ:CLSK) had its price objective increased by JPMorgan Chase & Co. from $14.00 to $15.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently commented on the company. HC Wainwright reaffirmed a buy rating and issued a $27.00 price target on shares of CleanSpark in a research note on Wednesday, March 27th. Cantor Fitzgerald boosted their target price on CleanSpark from $10.00 to $20.00 and gave the company an overweight rating in a research note on Thursday, March 28th. Chardan Capital boosted their target price on CleanSpark from $13.00 to $26.00 and gave the company a buy rating in a research note on Monday, March 4th. TheStreet raised CleanSpark from a d rating to a c- rating in a research note on Friday, February 9th. Finally, BTIG Research boosted their target price on CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $19.22.

CleanSpark Stock Down 1.8 %

Shares of CleanSpark stock opened at $15.05 on Wednesday. The business’s 50 day simple moving average is $16.69 and its two-hundred day simple moving average is $10.23. CleanSpark has a one year low of $2.87 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. The business had revenue of $73.79 million for the quarter, compared to analysts’ expectations of $66.06 million. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. On average, research analysts predict that CleanSpark will post -0.3 EPS for the current fiscal year.

Insider Activity at CleanSpark

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

Institutional Investors Weigh In On CleanSpark

Several hedge funds have recently added to or reduced their stakes in CLSK. JPMorgan Chase & Co. boosted its holdings in CleanSpark by 14.1% in the first quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock worth $268,000 after acquiring an additional 2,678 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in CleanSpark by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 183,219 shares of the company’s stock worth $2,266,000 after acquiring an additional 14,977 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in CleanSpark by 58.5% in the first quarter. MetLife Investment Management LLC now owns 22,472 shares of the company’s stock worth $278,000 after acquiring an additional 8,294 shares in the last quarter. Rhumbline Advisers boosted its holdings in CleanSpark by 15.2% in the first quarter. Rhumbline Advisers now owns 48,466 shares of the company’s stock worth $600,000 after acquiring an additional 6,407 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in CleanSpark by 10.8% in the first quarter. BlackRock Inc. now owns 2,524,449 shares of the company’s stock worth $31,228,000 after acquiring an additional 246,633 shares in the last quarter. 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.