CleanSpark (NASDAQ:CLSK) Price Target Raised to $28.00 at Cantor Fitzgerald

CleanSpark (NASDAQ:CLSK) had its price target upped by Cantor Fitzgerald from $27.00 to $28.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also weighed in on the company. HC Wainwright reiterated a buy rating and issued a $27.00 price objective on shares of CleanSpark in a research report on Friday, June 28th. Chardan Capital reissued a buy rating and set a $26.00 price objective on shares of CleanSpark in a research report on Monday, May 13th. BTIG Research upped their target price on shares of CleanSpark from $12.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price target on shares of CleanSpark from $15.00 to $12.50 and set a neutral rating for the company in a research report on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $20.13.

CleanSpark Stock Down 4.6 %

Shares of CLSK opened at $16.15 on Wednesday. The stock has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $15.17. CleanSpark has a 52-week low of $3.38 and a 52-week high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its earnings results on Thursday, May 9th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. CleanSpark had a net margin of 22.41% and a negative return on equity of 6.30%. The company had revenue of $111.80 million for the quarter, compared to the consensus estimate of $111.11 million. As a group, research analysts predict that CleanSpark will post -0.09 EPS for the current fiscal year.

Institutional Trading of CleanSpark

Hedge funds have recently made changes to their positions in the business. SRN Advisors LLC purchased a new stake in CleanSpark during the 1st quarter worth approximately $1,405,000. Cetera Advisors LLC increased its position in shares of CleanSpark by 73.4% during the first quarter. Cetera Advisors LLC now owns 19,892 shares of the company’s stock worth $422,000 after acquiring an additional 8,417 shares during the period. Virtu Financial LLC acquired a new stake in shares of CleanSpark in the first quarter valued at $237,000. Comerica Bank purchased a new position in CleanSpark in the first quarter valued at $1,894,000. Finally, California State Teachers Retirement System boosted its holdings in CleanSpark by 15.7% in the first quarter. California State Teachers Retirement System now owns 185,781 shares of the company’s stock valued at $3,940,000 after purchasing an additional 25,145 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.