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

CleanSpark (NASDAQ:CLSKGet Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 63.55% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 target price (down previously from $9.00) on shares of CleanSpark in a report on Friday, December 8th. Sanford C. Bernstein initiated coverage on shares of CleanSpark in a research report on Tuesday, October 31st. They set an “outperform” rating and a $5.30 price objective for the company. BTIG Research lifted their price target on shares of CleanSpark from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of CleanSpark in a research note on Friday, December 1st. One 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.05.

View Our Latest Research Report on CleanSpark

CleanSpark Trading Up 10.3 %

CLSK stock traded up $0.80 during mid-day trading on Tuesday, hitting $8.56. 17,416,655 shares of the company were exchanged, compared to its average volume of 23,076,514. The business has a 50 day simple moving average of $9.29 and a 200-day simple moving average of $6.26. CleanSpark has a 1-year low of $2.04 and a 1-year high of $13.56.

Insider Buying and Selling at CleanSpark

In other news, Director Larry Mcneill sold 40,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $10.42, for a total transaction of $416,800.00. Following the completion of the transaction, the director now owns 249,637 shares of the company’s stock, valued at $2,601,217.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. lifted its position in CleanSpark by 8.9% in the 1st quarter. American International Group Inc. now owns 19,814 shares of the company’s stock worth $245,000 after buying an additional 1,612 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in CleanSpark by 60.3% in the second quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after purchasing an additional 2,150 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in CleanSpark by 18.7% in the first quarter. Dimensional Fund Advisors LP now owns 16,374 shares of the company’s stock valued at $46,000 after purchasing an additional 2,574 shares during the last quarter. Amalgamated Bank lifted its position in CleanSpark by 25.4% in the fourth quarter. Amalgamated Bank now owns 13,197 shares of the company’s stock valued at $146,000 after purchasing an additional 2,671 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in CleanSpark by 14.1% in the first quarter. JPMorgan Chase & Co. now owns 21,634 shares of the company’s stock valued at $268,000 after purchasing an additional 2,678 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

About CleanSpark

(Get Free Report)

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.

Read More

Analyst Recommendations for CleanSpark (NASDAQ:CLSK)

Receive News & Ratings for CleanSpark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CleanSpark and related companies with MarketBeat.com's FREE daily email newsletter.