CleanSpark Inc. (NASDAQ:CLSK) shares traded -6.03% lower at $4.21 on Wall Street last session.
In accordance with the data, 4 analysts cover CleanSpark Inc. (NASDAQ:CLSK). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $6.00, we find $7.00. Given the previous closing price of $4.48, this indicates a potential upside of 56.25 percent. CLSK stock price is now 25.26% away from the 50-day moving average and 31.04% away from the 200-day moving average. The market capitalization of the company currently stands at $323.71M.
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It has been rated a hold by 0 analysts and a buy by 4. Brokers who have rated the stock have averaged $8.00 as their price target over the next twelve months.
With the price target of $5, Cantor Fitzgerald recently initiated with Overweight rating for CleanSpark Inc. (NASDAQ: CLSK)., while ‘Chardan Capital Markets’ rates the stock as ‘Buy’.
In other news, Vecchiarelli Gary Anthony, Chief Financial Officer bought 19,400 shares of the company’s stock on Dec 16. The stock was bought for $34,532 at an average price of $1.78. Upon completion of the transaction, the Chief Financial Officer now directly owns 147,157 shares in the company, valued at $0.62 million. Insiders disposed of 900,821 shares of company stock worth roughly $3.79 million over the past 1 year. A total of 9.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CLSK stock. A new stake in CleanSpark Inc. shares was purchased by CITADEL ADVISORS LLC during the first quarter worth $1,675,000. FRANKLIN RESOURCES INC invested $307,000 in shares of CLSK during the first quarter. In the first quarter, BAYESIAN CAPITAL MANAGEMENT, LP acquired a new stake in CleanSpark Inc. valued at approximately $218,000. SG AMERICAS SECURITIES, LLC acquired a new stake in CLSK for approximately $119,000. TWO SIGMA ADVISERS, LP purchased a new stake in CLSK valued at around $72,000 in the second quarter. In total, there are 157 active investors with 30.50% ownership of the company’s stock.
CleanSpark Inc. (NASDAQ: CLSK) opened at $4.3600 on Thursday. During the past 12 months, CleanSpark Inc. has had a low of $1.74 and a high of $6.84. As of last week, the company has a debt-to-equity ratio of 0.05, a current ratio of 0.50, and a quick ratio of 0.50. The fifty day moving average price for CLSK is $3.3976 and a two-hundred day moving average price translates $3.2111 for the stock.
The latest earnings results from CleanSpark Inc. (NASDAQ: CLSK) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at -$0.23, beating analysts’ expectations of -$0.33 by 0.1. This compares to -$0.05 EPS in the same period last year. The net profit margin was -47.20% and return on equity was -14.30% for CLSK. The company reported revenue of $42.55 million for the quarter, compared to $37.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.38 percent. For the current quarter, analysts expect CLSK to generate $52.95M in revenue.
CleanSpark Inc.(CLSK) Company Profile
CleanSpark, Inc. engages in the mining of bitcoin operations. It also provides data center services, including rack space, power, and equipment; and various cloud services, such as virtual, virtual storage, and data backup services. The company was formerly known as Stratean Inc. and changed its name to CleanSpark, Inc. in November 2016. CleanSpark, Inc. was incorporated in 1987 and is headquartered in Henderson, Nevada.
