CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) shares traded up 5.6% on Thursday . The company traded as high as $11.68 and last traded at $11.60. 7,374,723 shares were traded during mid-day trading, a decline of 77% from the average session volume of 32,207,398 shares. The stock had previously closed at $10.99.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Chardan Capital reissued a “buy” rating and issued a $26.00 target price on shares of CleanSpark in a research report on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald decreased their price objective on shares of CleanSpark from $28.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, CleanSpark currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.30.
Get Our Latest Research Report on CLSK
CleanSpark Stock Performance
Hedge Funds Weigh In On CleanSpark
Institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp purchased a new stake in CleanSpark in the second quarter valued at approximately $192,000. The Manufacturers Life Insurance Company raised its position in shares of CleanSpark by 20.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 127,865 shares of the company’s stock worth $2,039,000 after buying an additional 21,326 shares during the period. Millennium Management LLC boosted its holdings in CleanSpark by 74.6% in the second quarter. Millennium Management LLC now owns 1,251,278 shares of the company’s stock valued at $19,958,000 after acquiring an additional 534,825 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in CleanSpark during the 2nd quarter worth $953,000. Finally, Deerfield Management Company L.P. Series C acquired a new stake in CleanSpark during the 2nd quarter valued at $646,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.
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.
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