CleanSpark (CLSK) to Release Earnings on Thursday

CleanSpark (NASDAQ:CLSK) is scheduled to post its quarterly earnings results after the market closes on Thursday, May 9th. Analysts expect CleanSpark to post earnings of $0.06 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.26. CleanSpark had a negative return on equity of 16.25% and a negative net margin of 38.09%. The firm had revenue of $73.79 million during the quarter, compared to analyst estimates of $66.06 million. On average, analysts expect CleanSpark to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

CleanSpark Trading Down 4.5 %

Shares of CLSK opened at $15.65 on Thursday. CleanSpark has a 12 month low of $3.33 and a 12 month high of $24.72. The stock has a fifty day moving average price of $17.80 and a 200-day moving average price of $11.64.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Chardan Capital increased their price objective on CleanSpark from $13.00 to $26.00 and gave the company a “buy” rating in a report on Monday, March 4th. TheStreet raised CleanSpark from a “d” rating to a “c-” rating in a research report on Friday, February 9th. BTIG Research upped their target price on CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Monday, April 15th. Finally, Cantor Fitzgerald upped their target price on CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.22.

Insiders Place Their Bets

In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total transaction of $549,286.92. Following the sale, the chief financial officer now directly owns 554,391 shares of the company’s stock, valued at approximately $11,603,403.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total transaction of $549,286.92. Following the sale, the chief financial officer now directly owns 554,391 shares of the company’s stock, valued at approximately $11,603,403.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total value of $8,997,330.00. Following the sale, the chief executive officer now directly owns 2,795,863 shares in the company, valued at $56,783,977.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,169,620 shares of company stock valued at $24,963,509. Company insiders own 3.46% of the company’s stock.

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.