CleanSpark (NASDAQ:CLSK) Releases Quarterly Earnings Results

CleanSpark (NASDAQ:CLSK) released its quarterly earnings results on Thursday. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04, Zacks reports. CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%.

CleanSpark Trading Up 0.7 %

Shares of NASDAQ CLSK traded up $0.07 on Thursday, reaching $10.38. 23,234,354 shares of the company traded hands, compared to its average volume of 23,133,492. The stock has a market capitalization of $2.91 billion, a PE ratio of -17.90 and a beta of 4.25. CleanSpark has a fifty-two week low of $8.04 and a fifty-two week high of $24.72. The company has a 50 day moving average of $11.40 and a 200 day moving average of $11.64.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods initiated coverage on CleanSpark in a report on Monday, January 27th. They set an “outperform” rating and a $19.00 target price on the stock. Macquarie lifted 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. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and upped their target price for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Tuesday, January 28th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.57.

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.