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

HC Wainwright restated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a report published on Tuesday morning,Benzinga reports. They currently have a $27.00 target price on the stock. HC Wainwright also issued estimates for CleanSpark’s Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.08 EPS, FY2025 earnings at $0.01 EPS, Q1 2026 earnings at $0.13 EPS, Q2 2026 earnings at $0.16 EPS, Q3 2026 earnings at $0.17 EPS, Q4 2026 earnings at $0.14 EPS and FY2026 earnings at $0.59 EPS.

A number of other brokerages also recently commented on CLSK. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective on shares of CleanSpark in a research report on Thursday, October 3rd. Macquarie assumed coverage on CleanSpark in a report on Wednesday, September 25th. They set an “outperform” rating and a $20.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.08.

CleanSpark Trading Down 5.1 %

NASDAQ:CLSK opened at $13.93 on Tuesday. The stock has a market capitalization of $3.53 billion, a PE ratio of -24.02 and a beta of 4.16. CleanSpark has a 1-year low of $6.41 and a 1-year high of $24.72. The firm has a fifty day simple moving average of $12.24 and a 200 day simple moving average of $13.53.

Insiders Place Their Bets

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $9.24, for a total value of $205,331.28. Following the transaction, the director now directly owns 137,050 shares of the company’s stock, valued at $1,266,342. This represents a 13.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold 26,272 shares of company stock worth $254,836 over the last three months. Insiders own 2.99% of the company’s stock.

Hedge Funds Weigh In On CleanSpark

Several institutional investors and hedge funds have recently modified their holdings of CLSK. Hollencrest Capital Management boosted its holdings in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. National Bank of Canada FI raised its position in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after buying an additional 2,119 shares in the last quarter. KBC Group NV raised its position in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after buying an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of CleanSpark by 21.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares during the period. Finally, Doliver Advisors LP acquired a new stake in CleanSpark during the third quarter worth approximately $117,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.