CleanSpark, Inc. (NASDAQ:CLSK) Receives $19.22 Consensus Target Price from Brokerages

Shares of CleanSpark, Inc. (NASDAQ:CLSK) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.22.

CLSK has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a report on Friday, May 10th. Cantor Fitzgerald increased their price target on CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. TheStreet raised CleanSpark from a “d” rating to a “c-” rating in a report on Friday, February 9th. Chardan Capital reaffirmed a “buy” rating and issued a $26.00 price target on shares of CleanSpark in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. increased their price target on CleanSpark from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th.

Insider Activity at CleanSpark

In related news, Chairman S. Matthew Schultz sold 367,000 shares of CleanSpark stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the completion of the transaction, the chairman now directly owns 2,298,975 shares in the company, valued at $53,037,353.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other CleanSpark news, CEO Zachary Bradford sold 443,000 shares of CleanSpark stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the completion of the sale, the chief executive officer now directly owns 2,795,863 shares of the company’s stock, valued at approximately $56,783,977.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman S. Matthew Schultz sold 367,000 shares of CleanSpark stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $23.07, for a total value of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares of the company’s stock, valued at $53,037,353.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,158,644 shares of company stock worth $24,767,587. Company insiders own 3.46% of the company’s stock.

Institutional Trading of CleanSpark

Institutional investors have recently bought and sold shares of the business. 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 purchasing an additional 8,417 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of CleanSpark during the first quarter worth about $237,000. Comerica Bank acquired a new stake in shares of CleanSpark during the first quarter worth about $1,894,000. California State Teachers Retirement System increased its position in shares of CleanSpark by 15.7% during the first quarter. California State Teachers Retirement System now owns 185,781 shares of the company’s stock worth $3,940,000 after purchasing an additional 25,145 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of CleanSpark during the first quarter worth about $723,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

CleanSpark Stock Performance

NASDAQ CLSK opened at $17.63 on Thursday. The stock’s 50 day simple moving average is $17.54 and its 200-day simple moving average is $13.07. CleanSpark has a 1-year low of $3.38 and a 1-year high of $24.72.

About CleanSpark

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.