Cleanspark, Inc. (NASDAQ:CLSK) Given Consensus Rating of “Moderate Buy” by Analysts

Cleanspark, Inc. (NASDAQ:CLSK) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $20.4722.

A number of brokerages have commented on CLSK. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Cleanspark in a research report on Monday, September 8th. LADENBURG THALM/SH SH started coverage on Cleanspark in a research note on Monday, July 28th. They set a “buy” rating and a $20.25 price objective for the company. B. Riley increased their price objective on Cleanspark from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Macquarie increased their price objective on Cleanspark from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised Cleanspark from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Cleanspark Price Performance

Shares of NASDAQ CLSK opened at $19.28 on Friday. Cleanspark has a one year low of $6.45 and a one year high of $22.12. The firm’s 50 day simple moving average is $11.84 and its two-hundred day simple moving average is $10.40. The stock has a market capitalization of $5.42 billion, a P/E ratio of 22.68 and a beta of 3.88.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.71. Cleanspark had a net margin of 47.98% and a return on equity of 8.89%. The business had revenue of $198.64 million for the quarter, compared to analysts’ expectations of $191.33 million. During the same period last year, the business earned ($1.03) earnings per share. The business’s quarterly revenue was up 90.8% on a year-over-year basis. As a group, equities analysts expect that Cleanspark will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Cleanspark

In other news, COO Taylor Monnig sold 63,713 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $9.12, for a total transaction of $581,062.56. Following the completion of the sale, the chief operating officer owned 120,337 shares of the company’s stock, valued at approximately $1,097,473.44. This represents a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.65% of the company’s stock.

Institutional Trading of Cleanspark

A number of institutional investors have recently made changes to their positions in the stock. CX Institutional bought a new stake in Cleanspark in the first quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Cleanspark during the 2nd quarter valued at $29,000. Fifth Third Bancorp increased its position in Cleanspark by 145.3% during the 2nd quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock valued at $32,000 after purchasing an additional 1,694 shares during the period. Strs Ohio purchased a new position in Cleanspark during the 1st quarter valued at $38,000. Finally, Quarry LP purchased a new position in Cleanspark during the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 43.12% 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.