Brokerages Set Cleanspark, Inc. (NASDAQ:CLSK) PT at $24.02

Cleanspark, Inc. (NASDAQ:CLSK) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.2045.

CLSK has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cleanspark in a research report on Wednesday, October 8th. HC Wainwright lowered their price objective on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC boosted their target price on shares of Cleanspark from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday. Wall Street Zen raised shares of Cleanspark from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, B. Riley decreased their price target on shares of Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday.

Cleanspark Trading Up 13.8%

Shares of CLSK opened at $13.45 on Monday. The firm has a fifty day simple moving average of $15.81 and a two-hundred day simple moving average of $12.28. The firm has a market cap of $4.01 billion, a PE ratio of 12.12 and a beta of 3.79. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61.

Insiders Place Their Bets

In related news, COO Taylor Monnig sold 63,713 shares of Cleanspark stock in a transaction 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 transaction, the chief operating officer directly owned 120,337 shares in the company, valued at approximately $1,097,473.44. The trade was a 34.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.65% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its holdings in Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after acquiring an additional 937 shares in the last quarter. Quarry LP purchased a new position in Cleanspark during the third quarter valued at approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Cleanspark in the second quarter worth approximately $29,000. Fifth Third Bancorp boosted its position in shares of Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after purchasing an additional 1,694 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in shares of Cleanspark in the third quarter worth $32,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.