CleanSpark’s (CLSK) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report report published on Monday morning, Benzinga reports. They currently have a $27.00 price target on the stock.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald boosted their price objective on CleanSpark from $10.00 to $20.00 and gave the company an overweight rating in a research report on Thursday, March 28th. BTIG Research boosted their price objective on CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, March 19th. TheStreet raised CleanSpark from a d rating to a c- rating in a research report on Friday, February 9th. Chardan Capital upped their price target on CleanSpark from $13.00 to $26.00 and gave the stock a buy rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on CleanSpark from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $19.22.

CleanSpark Stock Performance

CleanSpark stock opened at $14.69 on Monday. The business has a 50-day moving average of $17.11 and a 200-day moving average of $10.52. CleanSpark has a 1 year low of $3.33 and a 1 year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data 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 analyst estimates of $66.06 million. On average, analysts anticipate that CleanSpark will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at CleanSpark

In other news, Director Roger Paul Beynon sold 10,976 shares of the company’s 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 owns 141,381 shares in the company, valued at approximately $2,523,650.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction on Thursday, March 21st. The stock was 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 approximately $56,783,977.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction 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 sale, the director now owns 141,381 shares in the company, valued at approximately $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 worth $24,963,509 in the last 90 days. Corporate insiders own 3.46% of the company’s stock.

Institutional Investors Weigh In On CleanSpark

Large investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new stake in CleanSpark in the 1st quarter valued at $109,000. Ameritas Investment Partners Inc. raised its stake in CleanSpark by 60.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after acquiring an additional 2,150 shares during the period. State of Wyoming bought a new stake in CleanSpark in the 2nd quarter valued at $27,000. Advisory Services Network LLC bought a new position in CleanSpark during the 4th quarter worth $83,000. Finally, DekaBank Deutsche Girozentrale bought a new position in CleanSpark during the 3rd quarter worth $30,000. 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.