CleanSpark, Inc. (NASDAQ:CLSK - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $8.90, but opened at $8.43. CleanSpark shares last traded at $8.10, with a volume of 4,846,652 shares changing hands.
Several brokerages have commented on CLSK. Needham & Company LLC started coverage on shares of CleanSpark in a research report on Wednesday, February 12th. They issued a "buy" rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. raised shares of CleanSpark from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Keefe, Bruyette & Woods began coverage on CleanSpark in a report on Monday, January 27th. They set an "outperform" rating and a $19.00 price objective for the company. Macquarie boosted their target price on CleanSpark from $20.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of CleanSpark in a research report on Friday, February 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $22.25.
Check Out Our Latest Analysis on CLSK
The stock has a market capitalization of $2.11 billion, a P/E ratio of 68.42 and a beta of 4.25. The stock has a fifty day moving average price of $10.39 and a 200 day moving average price of $11.14.
CleanSpark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. CleanSpark had a net margin of 16.07% and a negative return on equity of 2.61%. Research analysts anticipate that CleanSpark, Inc. will post 0.58 earnings per share for the current year.
In other CleanSpark news, Chairman S. Matthew Schultz sold 9,010 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $10.64, for a total transaction of $95,866.40. Following the transaction, the chairman now directly owns 2,450,010 shares in the company, valued at $26,068,106.40. This trade represents a 0.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Zachary Bradford sold 10,533 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $10.64, for a total transaction of $112,071.12. Following the completion of the sale, the chief executive officer now directly owns 3,059,326 shares of the company's stock, valued at $32,551,228.64. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,536 shares of company stock worth $265,748. 2.65% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management increased its position in CleanSpark by 33.3% during 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. FMR LLC boosted its stake in CleanSpark by 5.0% in the 3rd quarter. FMR LLC now owns 24,729 shares of the company's stock worth $231,000 after purchasing an additional 1,170 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of CleanSpark by 21.2% during 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 last quarter. Prudential Financial Inc. lifted its holdings in shares of CleanSpark by 9.1% during the fourth quarter. Prudential Financial Inc. now owns 16,835 shares of the company's stock valued at $155,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Corebridge Financial Inc. boosted its holdings in shares of CleanSpark by 1.2% during the 4th quarter. Corebridge Financial Inc. now owns 123,723 shares of the company's stock valued at $1,139,000 after acquiring an additional 1,507 shares during the last quarter. 43.12% of the stock is owned by institutional investors.
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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