HC Wainwright Reiterates Buy Rating for CleanSpark (NASDAQ:CLSK)

HC Wainwright reiterated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report report published on Tuesday,Benzinga reports. They currently have a $27.00 price target on the stock.

Several other equities analysts have also commented on CLSK. Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a report on Monday. They issued an “outperform” rating and a $19.00 price objective on the stock. Macquarie upped their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $22.57.

CleanSpark Stock Performance

Shares of CLSK stock opened at $10.05 on Tuesday. The firm’s 50 day moving average price is $11.81 and its 200-day moving average price is $11.93. CleanSpark has a one year low of $7.64 and a one year high of $24.72. The firm has a market cap of $2.94 billion, a P/E ratio of -17.33 and a beta of 4.26.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. As a group, research analysts predict that CleanSpark will post 0.18 EPS for the current fiscal year.

Institutional Investors Weigh In On CleanSpark

A number of large investors have recently modified their holdings of CLSK. GAMMA Investing LLC increased its position in shares of CleanSpark by 962.1% in the 4th quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after purchasing an additional 3,579 shares during the last quarter. Hollencrest Capital Management increased its position in shares of CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV increased its position in shares of CleanSpark by 42.0% in the 3rd 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 last quarter. DekaBank Deutsche Girozentrale increased its position in shares of CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of CleanSpark in the 4th quarter valued at approximately $101,000. 43.12% of the stock is owned by hedge funds and other 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.