CleanSpark (NASDAQ:CLSK) Shares Up 3.1% – What’s Next?

CleanSpark, Inc. (NASDAQ:CLSK)’s stock price traded up 3.1% during mid-day trading on Monday . The company traded as high as $11.37 and last traded at $11.14. 12,989,400 shares were traded during mid-day trading, a decline of 39% from the average session volume of 21,403,398 shares. The stock had previously closed at $10.80.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $10.50 to $17.00 in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Finally, Macquarie lifted their price target on CleanSpark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.17.

CleanSpark Stock Up 4.5 %

The company has a market cap of $3.30 billion, a P/E ratio of -19.47 and a beta of 4.26. The business has a fifty day moving average price of $12.60 and a 200-day moving average price of $12.63.

Institutional Investors Weigh In On CleanSpark

A number of institutional investors have recently made changes to their positions in the company. Doliver Advisors LP boosted its holdings in shares of CleanSpark by 59.6% during the fourth quarter. Doliver Advisors LP now owns 20,000 shares of the company’s stock worth $184,000 after acquiring an additional 7,470 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CleanSpark by 962.1% during the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock worth $36,000 after acquiring an additional 3,579 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of CleanSpark by 167.2% during the third quarter. Sanctuary Advisors LLC now owns 47,882 shares of the company’s stock worth $447,000 after acquiring an additional 29,964 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of CleanSpark during the third quarter worth approximately $903,000. Finally, Geode Capital Management LLC boosted its stake in shares of CleanSpark by 9.8% in the third quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after buying an additional 549,187 shares during the period. 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.