CleanSpark (NASDAQ:CLSK) Given “Buy” Rating at Chardan Capital

Chardan Capital restated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a report published on Tuesday morning, Benzinga reports. Chardan Capital currently has a $26.00 target price on the stock.

Several other research firms have also recently commented on CLSK. JPMorgan Chase & Co. raised their price target on CleanSpark from $14.00 to $15.00 and gave the company a neutral rating in a report on Wednesday, April 10th. TheStreet raised CleanSpark from a d rating to a c- rating in a research note on Friday, February 9th. Cantor Fitzgerald boosted their price objective on shares of CleanSpark from $10.00 to $20.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. HC Wainwright reiterated a buy rating and set a $27.00 target price on shares of CleanSpark in a report on Monday, April 15th. Finally, BTIG Research boosted their price target on CleanSpark from $12.00 to $22.00 and gave the stock a buy rating in a report on Tuesday, March 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $19.22.

CleanSpark Stock Performance

Shares of CleanSpark stock opened at $16.54 on Tuesday. CleanSpark has a one year low of $3.38 and a one year high of $24.72. The firm has a fifty day moving average of $17.62 and a two-hundred day moving average of $12.05.

CleanSpark (NASDAQ:CLSK) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million during the quarter, compared to analysts’ expectations of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. On average, equities research analysts forecast that CleanSpark will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 10,976 shares of CleanSpark stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total value of $195,921.60. Following the completion of the sale, the director now owns 141,381 shares of the company’s stock, valued at $2,523,650.85. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Zachary Bradford sold 443,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the transaction, the chief executive officer now owns 2,795,863 shares of the company’s stock, valued at $56,783,977.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at approximately $2,523,650.85. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock valued at $24,963,509 in the last quarter. 3.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC grew its position in CleanSpark by 10.3% during the first quarter. Headlands Technologies LLC now owns 129,606 shares of the company’s stock valued at $2,749,000 after acquiring an additional 12,091 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of CleanSpark during the 1st quarter worth about $615,000. Swiss National Bank grew its holdings in shares of CleanSpark by 21.3% during the 1st quarter. Swiss National Bank now owns 364,800 shares of the company’s stock worth $7,737,000 after purchasing an additional 64,000 shares during the period. SG Americas Securities LLC increased its position in CleanSpark by 77.6% during the 1st quarter. SG Americas Securities LLC now owns 95,223 shares of the company’s stock worth $2,020,000 after purchasing an additional 41,605 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in CleanSpark by 8.1% in the first quarter. Empowered Funds LLC now owns 153,867 shares of the company’s stock valued at $3,264,000 after buying an additional 11,550 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.