CleanSpark (NASDAQ:CLSK) Coverage Initiated at Needham & Company LLC

Needham & Company LLC started coverage on shares of CleanSpark (NASDAQ:CLSK) in a research note published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $20.00 price target on the stock.

CLSK has been the topic of a number of other research reports. Keefe, Bruyette & Woods started coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Friday, February 7th. Macquarie upped their price target 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. Finally, JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.25.

CleanSpark Stock Up 2.3 %

CLSK stock opened at $10.52 on Wednesday. CleanSpark has a 52-week low of $8.04 and a 52-week high of $24.72. The company’s 50-day simple moving average is $11.05 and its 200-day simple moving average is $11.42. The firm has a market cap of $2.95 billion, a P/E ratio of 95.65 and a beta of 4.24.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative return on equity of 2.81% and a net margin of 16.07%. On average, analysts anticipate that CleanSpark will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of CleanSpark

Several large investors have recently bought and sold shares of CLSK. Hollencrest Capital Management lifted its stake in CleanSpark by 33.3% in the 3rd quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. FMR LLC increased its holdings in shares of CleanSpark by 5.0% in the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after purchasing an additional 1,170 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after buying an additional 1,345 shares in the last quarter. Prudential Financial Inc. boosted its stake in CleanSpark by 9.1% during the fourth quarter. Prudential Financial Inc. now owns 16,835 shares of the company’s stock worth $155,000 after buying an additional 1,405 shares during the last quarter. Finally, Corebridge Financial Inc. grew its holdings in CleanSpark by 1.2% in the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company’s stock valued at $1,139,000 after buying an additional 1,507 shares in the last quarter. 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.