CleanSpark (NASDAQ:CLSK) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $27.00 target price on the stock.

A number of other research analysts also recently weighed in on CLSK. JPMorgan Chase & Co. cut their price target on CleanSpark from $15.00 to $12.50 and set a neutral rating on the stock in a research note on Tuesday, June 4th. Cantor Fitzgerald raised CleanSpark to a strong-buy rating in a research note on Wednesday, June 12th. BTIG Research increased their price target on CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Finally, Chardan Capital reaffirmed a buy rating and set a $26.00 price objective on shares of CleanSpark in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $19.97.

CleanSpark Stock Up 12.4 %

NASDAQ:CLSK opened at $17.92 on Friday. The stock’s fifty day moving average price is $17.15 and its two-hundred day moving average price is $15.12. CleanSpark has a 52-week low of $3.38 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.07. The company had revenue of $111.80 million for the quarter, compared to the consensus estimate of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. Analysts forecast that CleanSpark will post -0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CleanSpark

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares in the last quarter. Tobam grew its holdings in shares of CleanSpark by 6.4% in the 1st quarter. Tobam now owns 23,142 shares of the company’s stock valued at $491,000 after acquiring an additional 1,394 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of CleanSpark by 14.5% in the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock valued at $130,000 after acquiring an additional 1,500 shares in the last quarter. American Capital Advisory LLC bought a new position in shares of CleanSpark in the 1st quarter valued at about $32,000. Finally, VitalStone Financial LLC grew its holdings in shares of CleanSpark by 21.7% in the 4th quarter. VitalStone Financial LLC now owns 10,825 shares of the company’s stock valued at $119,000 after acquiring an additional 1,930 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

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.