CleanSpark (NASDAQ:CLSK) Earns “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of CleanSpark (NASDAQ:CLSK) in a research report released on Tuesday morning, Benzinga reports. They currently have a $26.00 target price on the stock.

CLSK has been the subject of a number of other research reports. HC Wainwright reaffirmed a buy rating and issued a $27.00 price target on shares of CleanSpark in a research note on Monday, April 15th. Cantor Fitzgerald increased their price target on shares of CleanSpark from $10.00 to $20.00 and gave the stock an overweight rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their price objective on CleanSpark from $14.00 to $15.00 and gave the company a neutral rating in a research report on Wednesday, April 10th. BTIG Research increased their target price on CleanSpark from $12.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Finally, TheStreet upgraded CleanSpark from a d rating to a c- rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, CleanSpark has a consensus rating of Moderate Buy and a consensus price target of $19.22.

CleanSpark Trading Up 1.3 %

NASDAQ:CLSK opened at $16.59 on Tuesday. CleanSpark has a 52 week low of $3.38 and a 52 week high of $24.72. The company has a fifty day moving average of $17.59 and a 200 day moving average of $12.11.

CleanSpark (NASDAQ:CLSK) last posted its earnings results on Thursday, February 8th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.26. The company had revenue of $73.79 million during the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. On average, sell-side analysts predict that CleanSpark will post -0.3 EPS for the current year.

Insider Buying and Selling at CleanSpark

In other news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the sale, the chief executive officer now owns 2,795,863 shares in the company, valued at $56,783,977.53. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the transaction, the chief executive officer now owns 2,795,863 shares in the company, valued at $56,783,977.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger Paul Beynon sold 10,976 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total value of $195,921.60. Following the transaction, the director now directly owns 141,381 shares in the company, valued at $2,523,650.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,169,620 shares of company stock worth $24,963,509. 3.46% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CleanSpark

Several hedge funds and other institutional investors have recently made changes to their positions in CLSK. SG Americas Securities LLC raised its position in CleanSpark by 65.7% in the third quarter. SG Americas Securities LLC now owns 43,734 shares of the company’s stock worth $167,000 after acquiring an additional 17,341 shares during the period. Bank of New York Mellon Corp lifted its position in shares of CleanSpark by 32.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 502,345 shares of the company’s stock valued at $1,914,000 after buying an additional 124,488 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CleanSpark during the 3rd quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. raised its stake in CleanSpark by 0.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 800,059 shares of the company’s stock worth $3,048,000 after acquiring an additional 2,709 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in CleanSpark during the third quarter valued at approximately $60,000. Hedge funds and other institutional investors 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.