Brokerages Set CleanSpark, Inc. (NASDAQ:CLSK) Target Price at $21.42

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $21.42.

A number of equities research analysts have recently issued reports on CLSK shares. JPMorgan Chase & Co. reduced their price target on shares of CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a research note on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Wednesday, September 25th. Finally, Macquarie started coverage on shares of CleanSpark in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $20.00 price target on the stock.

CleanSpark Price Performance

CleanSpark stock opened at $14.03 on Thursday. The company’s 50 day simple moving average is $10.89 and its 200-day simple moving average is $13.72. CleanSpark has a 1 year low of $3.75 and a 1 year high of $24.72.

Insider Buying and Selling

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $9.24, for a total transaction of $205,331.28. Following the completion of the transaction, the director now owns 137,050 shares in the company, valued at $1,266,342. The trade was a 13.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 26,272 shares of company stock valued at $250,003 in the last ninety days. Company insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in CleanSpark by 58.5% during the 1st quarter. Vanguard Group Inc. now owns 12,755,249 shares of the company’s stock worth $270,539,000 after acquiring an additional 4,706,738 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 549,187 shares in the last quarter. State Street Corp raised its position in CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after buying an additional 261,195 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after buying an additional 208,862 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after buying an additional 620,792 shares during the last quarter. 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.