CleanSpark (NASDAQ:CLSK) Trading 0.7% Higher – Here’s Why

CleanSpark, Inc. (NASDAQ:CLSK) shares traded up 0.7% on Thursday . The company traded as high as $9.79 and last traded at $9.27. 11,351,985 shares traded hands during trading, a decline of 64% from the average session volume of 31,514,195 shares. The stock had previously closed at $9.21.

Analysts Set New Price Targets

Several research firms recently weighed in on CLSK. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Tuesday, December 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research report on Thursday, October 3rd. Finally, Macquarie boosted their price objective on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $23.17.

CleanSpark Trading Up 14.3 %

The business’s fifty day moving average is $12.60 and its 200 day moving average is $12.68. The company has a market cap of $3.16 billion, a P/E ratio of -18.62 and a beta of 4.16.

Institutional Trading of CleanSpark

Several hedge funds have recently made changes to their positions in CLSK. GAMMA Investing LLC grew its stake in shares of CleanSpark by 962.1% during the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after acquiring an additional 3,579 shares during the period. Hollencrest Capital Management boosted its position in CleanSpark by 33.3% during the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the period. National Bank of Canada FI boosted its position in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after purchasing an additional 2,119 shares during the period. KBC Group NV raised its position in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after purchasing an additional 2,190 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors.

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.