CleanSpark, Inc. (NASDAQ:CLSK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.97.

A number of brokerages recently weighed in on CLSK. Chardan Capital restated a “buy” rating and set a $26.00 price objective on shares of CleanSpark in a research report on Monday, May 13th. JPMorgan Chase & Co. lowered their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating for the company in a research note on Friday, August 23rd. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Monday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research report on Tuesday.

Institutional Trading of CleanSpark

Several institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in shares of CleanSpark by 21.3% in the 1st quarter. Swiss National Bank now owns 364,800 shares of the company’s stock valued at $7,737,000 after purchasing an additional 64,000 shares during the last quarter. Vanguard Group Inc. boosted its position in CleanSpark by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after acquiring an additional 515,314 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CleanSpark by 62.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock worth $93,032,000 after acquiring an additional 3,235,171 shares during the period. Beacon Pointe Advisors LLC bought a new position in shares of CleanSpark in the 4th quarter worth about $331,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CleanSpark by 73.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,884 shares of the company’s stock valued at $396,000 after purchasing an additional 15,162 shares during the period. 43.12% of the stock is currently owned by institutional investors.

CleanSpark Price Performance

Shares of NASDAQ CLSK opened at $8.09 on Friday. CleanSpark has a 12 month low of $3.38 and a 12 month high of $24.72. The stock has a 50-day moving average price of $13.98 and a two-hundred day moving average price of $16.20.

CleanSpark (NASDAQ:CLSK) last issued 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). The company had revenue of $104.11 million during the quarter, compared to the consensus estimate of $114.04 million. CleanSpark had a negative net margin of 46.31% and a negative return on equity of 3.64%. Equities analysts forecast that CleanSpark will post -0.06 earnings per share for the current fiscal year.

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.