CleanSpark (NASDAQ:CLSK) Trading Up 7.3%

CleanSpark, Inc. (NASDAQ:CLSK)’s stock price traded up 7.3% during trading on Monday . The company traded as high as $18.49 and last traded at $18.46. 31,062,839 shares were traded during trading, a decline of 11% from the average session volume of 34,833,266 shares. The stock had previously closed at $17.20.

Wall Street Analyst Weigh In

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

CleanSpark Price Performance

The business’s 50-day moving average is $17.68 and its two-hundred day moving average is $11.09.

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

Insider Buying and Selling at CleanSpark

In other CleanSpark news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $20.93, for a total value of $549,286.92. Following the transaction, the chief financial officer now directly owns 554,391 shares of the company’s stock, valued at approximately $11,603,403.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Gary Anthony Vecchiarelli sold 26,244 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $20.93, for a total value of $549,286.92. Following the completion of the transaction, the chief financial officer now directly owns 554,391 shares in the company, valued at approximately $11,603,403.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roger Paul Beynon sold 10,976 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $17.85, for a total transaction of $195,921.60. Following the transaction, the director now owns 141,381 shares of the company’s stock, valued at $2,523,650.85. The disclosure for this sale can be found here. Insiders sold 1,169,620 shares of company stock valued at $24,963,509 in the last quarter. 3.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLSK. Vontobel Holding Ltd. bought a new stake in shares of CleanSpark during the third quarter worth about $94,000. SG Americas Securities LLC raised its stake in shares of CleanSpark by 65.7% during the third quarter. SG Americas Securities LLC now owns 43,734 shares of the company’s stock valued at $167,000 after acquiring an additional 17,341 shares during the last quarter. Founders Financial Securities LLC acquired a new position in shares of CleanSpark during the third quarter worth $40,000. Counterpoint Mutual Funds LLC bought a new stake in shares of CleanSpark in the third quarter worth $130,000. Finally, Bank of New York Mellon Corp increased its holdings in CleanSpark by 32.9% in the third quarter. Bank of New York Mellon Corp now owns 502,345 shares of the company’s stock valued at $1,914,000 after purchasing an additional 124,488 shares during the period. 43.12% of the stock is currently owned by 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.