CleanSpark (NASDAQ:CLSK) Rating Reiterated by HC Wainwright

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

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

CleanSpark Stock Performance

CLSK stock opened at $16.23 on Monday. The business has a 50 day moving average price of $17.34 and a 200 day moving average price of $10.62. CleanSpark has a fifty-two week low of $3.33 and a fifty-two week high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million during 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%. Analysts forecast that CleanSpark will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total value of $549,286.92. Following the transaction, the chief financial officer now owns 554,391 shares in the company, valued at $11,603,403.63. 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 three months. 3.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CleanSpark

A number of large investors have recently modified their holdings of CLSK. Ameritas Investment Partners Inc. grew its stake in shares of CleanSpark by 60.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after buying an additional 2,150 shares in the last quarter. Barclays PLC lifted its holdings in shares of CleanSpark by 533.2% in the 4th quarter. Barclays PLC now owns 12,253 shares of the company’s stock worth $25,000 after purchasing an additional 10,318 shares during the last quarter. State of Wyoming bought a new stake in CleanSpark during the 2nd quarter valued at $27,000. Lazard Asset Management LLC raised its stake in CleanSpark by 3,177.3% during the 3rd quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock valued at $29,000 after acquiring an additional 7,689 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in CleanSpark during the 3rd quarter valued at $30,000. Institutional investors and hedge funds 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.