CleanSpark (NASDAQ:CLSK) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of CleanSpark (NASDAQ:CLSK) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

Several other brokerages have also weighed in on CLSK. HC Wainwright reissued a buy rating and set a $27.00 price objective on shares of CleanSpark in a report on Monday, August 12th. JPMorgan Chase & Co. cut their price target on CleanSpark from $12.50 to $10.50 and set a neutral rating for the company in a research note on Friday, August 23rd. Finally, Chardan Capital restated a buy rating and issued 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 and five have issued a buy rating to the company’s stock. According to MarketBeat.com, CleanSpark presently has a consensus rating of Moderate Buy and an average price target of $18.97.

CleanSpark Trading Down 1.0 %

NASDAQ CLSK opened at $8.59 on Tuesday. The business’s fifty day moving average is $14.13 and its 200-day moving average is $16.25. CleanSpark has a one year low of $3.38 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.01 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 during the quarter, compared to the consensus estimate of $114.04 million. Equities analysts predict that CleanSpark will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLSK. American Capital Advisory LLC bought a new stake in shares of CleanSpark during the first quarter valued at about $32,000. National Bank of Canada FI increased its holdings in CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after acquiring an additional 2,119 shares during the period. Hollencrest Capital Management purchased a new stake in CleanSpark in the 2nd quarter worth approximately $48,000. Russell Investments Group Ltd. lifted its stake in CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock worth $62,000 after purchasing an additional 787 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in CleanSpark in the 1st quarter valued at $109,000. 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.