CleanSpark (NASDAQ:CLSK) Price Target Raised to $24.00

CleanSpark (NASDAQ:CLSK) had its price objective hoisted by Macquarie from $20.00 to $24.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

CLSK has been the subject of a number of other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of CleanSpark in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on CleanSpark from $12.50 to $10.50 and set a “neutral” rating on the stock in a report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.08.

CleanSpark Stock Performance

Shares of CLSK stock opened at $14.97 on Wednesday. The company has a market cap of $3.79 billion, a P/E ratio of -25.81 and a beta of 4.16. CleanSpark has a fifty-two week low of $6.41 and a fifty-two week high of $24.72. The stock has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $13.50.

Insiders Place Their Bets

In other CleanSpark news, Director Thomas Leigh Wood sold 22,222 shares of the business’s stock in a transaction 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 sale, the director now owns 137,050 shares of the company’s stock, valued at $1,266,342. The trade was a 13.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 26,272 shares of company stock valued at $254,836 over the last ninety days. 2.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CleanSpark

Several hedge funds have recently made changes to their positions in CLSK. Hollencrest Capital Management raised its position in shares of CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after purchasing an additional 2,119 shares in the last quarter. KBC Group NV increased its position in shares of CleanSpark by 42.0% in the third quarter. KBC Group NV now owns 7,403 shares of the company’s stock worth $69,000 after purchasing an additional 2,190 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in CleanSpark by 21.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Doliver Advisors LP purchased a new position in CleanSpark in the 3rd quarter worth approximately $117,000. 43.12% of the stock is currently 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.