CleanSpark (NASDAQ:CLSK – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04, Zacks reports. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.81%.
CleanSpark Price Performance
CLSK stock opened at $11.33 on Friday. CleanSpark has a fifty-two week low of $8.04 and a fifty-two week high of $24.72. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 103.01 and a beta of 4.24. The business’s fifty day moving average price is $11.33 and its two-hundred day moving average price is $11.64.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CLSK. JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research note on Friday. Keefe, Bruyette & Woods began coverage on CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Macquarie lifted their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.57.
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.
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