CleanSpark (NASDAQ:CLSK) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of CleanSpark (NASDAQ:CLSK) in a report released on Monday, MarketBeat reports. The firm issued an outperform rating and a $19.00 price target on the stock.

CLSK has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Finally, Macquarie increased their price objective on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.57.

CleanSpark Price Performance

Shares of CLSK stock opened at $10.26 on Monday. The company’s 50-day simple moving average is $11.73 and its two-hundred day simple moving average is $11.92. CleanSpark has a one year low of $7.64 and a one year high of $24.72. The company has a market capitalization of $3.00 billion, a P/E ratio of -17.69 and a beta of 4.26.

CleanSpark (NASDAQ:CLSK) last announced its quarterly earnings data on Monday, December 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.02). CleanSpark had a negative return on equity of 2.36% and a negative net margin of 38.47%. On average, research analysts expect that CleanSpark will post 0.18 EPS for the current fiscal year.

Institutional Trading of CleanSpark

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after acquiring an additional 3,579 shares during the last quarter. Hollencrest Capital Management grew its holdings in CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV increased its position in shares of CleanSpark by 42.0% during the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of CleanSpark in the 4th quarter worth $101,000. 43.12% of the stock is currently owned by institutional investors.

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.