CleanSpark, Inc. (NASDAQ:CLSK) Receives Average Recommendation of “Buy” from Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have earned a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.17.

CLSK has been the topic of several research reports. Macquarie upped their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.50 to $17.00 in a research report on Tuesday, December 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research report on Tuesday, December 3rd.

Institutional Investors Weigh In On CleanSpark

Large investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of CleanSpark during the 2nd quarter worth approximately $18,074,000. Van ECK Associates Corp lifted its stake in CleanSpark by 64.0% during the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after purchasing an additional 620,792 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after purchasing an additional 549,187 shares in the last quarter. Millennium Management LLC increased its stake in shares of CleanSpark by 74.6% in the 2nd quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after purchasing an additional 534,825 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of CleanSpark by 364.0% during the 3rd quarter. Barclays PLC now owns 389,201 shares of the company’s stock worth $3,634,000 after buying an additional 305,316 shares in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

CleanSpark Stock Performance

Shares of CLSK opened at $10.09 on Friday. The firm has a market cap of $2.95 billion, a P/E ratio of -17.40 and a beta of 4.26. CleanSpark has a 52 week low of $6.41 and a 52 week high of $24.72. The firm’s 50-day simple moving average is $12.51 and its 200 day simple moving average is $12.47.

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.