CleanSpark, Inc. (NASDAQ:CLSK) Receives $21.42 Consensus Target Price from Analysts

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.42.

Several brokerages recently issued reports on CLSK. Macquarie assumed coverage on shares of CleanSpark in a research report on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price objective on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of CleanSpark in a research note on Thursday, October 3rd.

Insiders Place Their Bets

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the sale, the director now 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 at the SEC website. Insiders have sold 26,272 shares of company stock valued at $250,003 in the last ninety days. Company insiders own 2.99% of the company’s stock.

Institutional Trading of CleanSpark

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in CleanSpark by 58.5% in the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after buying an additional 4,706,738 shares during the period. Geode Capital Management LLC raised its holdings in CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after purchasing an additional 549,187 shares in the last quarter. State Street Corp lifted its position in shares of CleanSpark by 4.5% in the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after purchasing an additional 261,195 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after purchasing an additional 208,862 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of CleanSpark by 64.0% during the third quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock valued at $14,857,000 after buying an additional 620,792 shares during the period. 43.12% of the stock is owned by institutional investors.

CleanSpark Price Performance

CLSK stock opened at $13.38 on Thursday. The firm has a 50 day simple moving average of $10.89 and a two-hundred day simple moving average of $13.70. CleanSpark has a one year low of $4.04 and a one year high of $24.72.

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.