CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) was down 0.8% during trading on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $28.00 to $23.00. Cantor Fitzgerald currently has an overweight rating on the stock. CleanSpark traded as low as $10.84 and last traded at $11.07. Approximately 6,423,652 shares were traded during trading, a decline of 80% from the average daily volume of 32,378,744 shares. The stock had previously closed at $11.16.
A number of other research firms have also weighed in on CLSK. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of CleanSpark in a research note on Friday, June 28th. Chardan Capital reaffirmed a “buy” rating and issued a $26.00 price target on shares of CleanSpark in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.30.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in CLSK. Russell Investments Group Ltd. boosted its stake in shares of CleanSpark by 36.8% during the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after purchasing an additional 787 shares in the last quarter. SteelPeak Wealth LLC boosted its position in CleanSpark by 3.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 36,907 shares of the company’s stock valued at $589,000 after acquiring an additional 1,066 shares in the last quarter. Amalgamated Bank increased its holdings in shares of CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after acquiring an additional 1,194 shares during the period. Tobam raised its position in shares of CleanSpark by 6.4% in the 1st quarter. Tobam now owns 23,142 shares of the company’s stock worth $491,000 after acquiring an additional 1,394 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of CleanSpark by 14.5% during the 4th quarter. Scotia Capital Inc. now owns 11,810 shares of the company’s stock worth $130,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.
CleanSpark Stock Performance
The business has a 50-day moving average of $16.18 and a two-hundred day moving average of $16.33.
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.