CleanSpark (NASDAQ:CLSK) Given “Buy” Rating at HC Wainwright

CleanSpark (NASDAQ:CLSK)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $27.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 160.12% from the company’s previous close.

A number of other research firms have also weighed in on CLSK. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $10.50 to $17.00 in a research note on Tuesday, December 10th. Macquarie raised their target price on shares of CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods began coverage on shares of CleanSpark in a research note on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, CleanSpark presently has an average rating of “Buy” and an average target price of $22.57.

CleanSpark Trading Up 0.7 %

Shares of CleanSpark stock opened at $10.38 on Friday. The firm has a market capitalization of $2.91 billion, a PE ratio of -17.90 and a beta of 4.25. CleanSpark has a twelve month low of $8.04 and a twelve month high of $24.72. The firm’s 50-day moving average price is $11.40 and its 200 day moving average price is $11.64.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%. On average, sell-side analysts predict that CleanSpark will post 0.18 EPS for the current fiscal year.

Institutional Trading of CleanSpark

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of CleanSpark during the 3rd quarter worth approximately $374,000. Kovitz Investment Group Partners LLC increased its holdings in CleanSpark by 85.8% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 184,950 shares of the company’s stock valued at $1,727,000 after purchasing an additional 85,388 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in CleanSpark by 10.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock valued at $20,500,000 after purchasing an additional 208,862 shares during the last quarter. Quantbot Technologies LP acquired a new stake in CleanSpark in the 3rd quarter valued at approximately $1,960,000. Finally, Clarity Capital Partners LLC increased its holdings in CleanSpark by 100.8% in the 3rd quarter. Clarity Capital Partners LLC now owns 175,056 shares of the company’s stock valued at $1,635,000 after purchasing an additional 87,891 shares during the last quarter. Institutional investors and hedge funds 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.