CleanSpark, Inc. (NASDAQ:CLSK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.97.

CLSK has been the subject of several recent analyst reports. Chardan Capital reiterated a “buy” rating and set a $26.00 price objective on shares of CleanSpark in a research note on Monday, May 13th. Cantor Fitzgerald cut their price target on shares of CleanSpark from $28.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. decreased their price objective 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Monday, August 12th.

Institutional Trading of CleanSpark

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Capital Advisory LLC bought a new position in shares of CleanSpark in the 1st quarter worth $32,000. National Bank of Canada FI grew its position in shares of CleanSpark by 470.9% during the 2nd quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after buying an additional 2,119 shares during the period. Hollencrest Capital Management acquired a new position in shares of CleanSpark during the 2nd quarter worth about $48,000. Russell Investments Group Ltd. increased its stake in shares of CleanSpark by 36.8% in the 1st quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of CleanSpark in the 1st quarter valued at approximately $109,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

CleanSpark Stock Down 1.1 %

NASDAQ CLSK opened at $10.69 on Friday. CleanSpark has a 1-year low of $3.38 and a 1-year high of $24.72. The stock’s 50 day moving average is $14.54 and its two-hundred day moving average is $16.42.

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.