Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) Target Price at $23.17

CleanSpark, Inc. (NASDAQ:CLSK) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.17.

A number of equities research analysts have recently commented on the stock. Macquarie increased their target price on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of CleanSpark in a report on Tuesday, December 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $23.00 target price on shares of CleanSpark in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised CleanSpark from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Doliver Advisors LP lifted its stake in shares of CleanSpark by 59.6% in the 4th quarter. Doliver Advisors LP now owns 20,000 shares of the company’s stock valued at $184,000 after purchasing an additional 7,470 shares during the last quarter. GAMMA Investing LLC lifted its position in CleanSpark by 962.1% in the fourth quarter. GAMMA Investing LLC now owns 3,951 shares of the company’s stock valued at $36,000 after buying an additional 3,579 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in 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 buying an additional 29,964 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of CleanSpark during the third quarter valued at about $903,000. Finally, Geode Capital Management LLC raised its stake in shares of CleanSpark by 9.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock valued at $57,577,000 after acquiring an additional 549,187 shares during the period. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

CleanSpark Stock Performance

NASDAQ CLSK opened at $10.71 on Friday. The business has a fifty day moving average price of $12.55 and a 200 day moving average price of $12.48. The company has a market cap of $3.13 billion, a P/E ratio of -18.47 and a beta of 4.26. CleanSpark has a one year low of $6.41 and a one year high of $24.72.

CleanSpark Company Profile

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.