CleanSpark (NASDAQ:CLSK) Stock Rating Reaffirmed by Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald reissued their overweight rating on shares of CleanSpark (NASDAQ:CLSK – Free Report) in a research note released on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $23.00 target price on the stock.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price target on CleanSpark from $12.50 to $10.50 and set a neutral rating on the stock in a research report on Friday, August 23rd. Macquarie assumed coverage on CleanSpark in a research report on Wednesday, September 25th. They set an outperform rating and a $20.00 price target on the stock. Finally, HC Wainwright restated a buy rating and set a $27.00 price target on shares of CleanSpark in a research report on Wednesday, September 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, CleanSpark has an average rating of Moderate Buy and an average target price of $19.11.

View Our Latest Analysis on CLSK

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $9.58 on Thursday. CleanSpark has a 1-year low of $3.38 and a 1-year high of $24.72. The stock’s 50-day moving average is $10.76 and its 200 day moving average is $14.96.

CleanSpark (NASDAQ:CLSK – Get Free Report) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). CleanSpark had a negative return on equity of 3.64% and a negative net margin of 46.31%. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $114.04 million. Equities research analysts expect that CleanSpark will post -0.06 earnings per share for the current year.

Insider Transactions at CleanSpark

In related news, Director Thomas Leigh Wood sold 22,222 shares of CleanSpark stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total transaction of $205,331.28. Following the sale, the director now directly owns 137,050 shares in the company, valued at $1,266,342. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 26,272 shares of company stock worth $256,874. 3.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in CleanSpark by 21.3% during the first quarter. Swiss National Bank now owns 364,800 shares of the company’s stock valued at $7,737,000 after buying an additional 64,000 shares during the last quarter. Vanguard Group Inc. raised its stake in CleanSpark by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after buying an additional 515,314 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new position in shares of CleanSpark in the second quarter worth $1,563,000. Comerica Bank purchased a new position in shares of CleanSpark in the first quarter worth $1,894,000. Finally, Millennium Management LLC raised its stake in shares of CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock worth $19,958,000 after purchasing an additional 534,825 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

CleanSpark Company Profile

(Get Free Report)

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.

Featured Articles