CleanSpark (NASDAQ:CLSK) Shares Gap Up – Time to Buy?

by · The Cerbat Gem

Shares of CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $11.18, but opened at $11.83. CleanSpark shares last traded at $12.04, with a volume of 5,095,317 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CLSK shares. JPMorgan Chase & Co. raised shares of CleanSpark from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $10.50 to $17.00 in a report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 price target on shares of CleanSpark in a report on Thursday, October 3rd. Macquarie boosted their price target on shares of CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of CleanSpark in a report on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $23.17.

View Our Latest Report on CleanSpark

CleanSpark Stock Performance

The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -21.19 and a beta of 4.26. The stock’s fifty day simple moving average is $12.41 and its two-hundred day simple moving average is $12.25.

Institutional Investors Weigh In On CleanSpark

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in CleanSpark by 9.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,163,461 shares of the company’s stock worth $57,577,000 after buying an additional 549,187 shares during the period. State Street Corp raised its holdings in CleanSpark by 4.5% during the 3rd quarter. State Street Corp now owns 6,073,912 shares of the company’s stock worth $56,730,000 after buying an additional 261,195 shares during the period. Assenagon Asset Management S.A. acquired a new stake in CleanSpark during the 4th quarter worth about $39,940,000. Charles Schwab Investment Management Inc. raised its holdings in CleanSpark by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,194,835 shares of the company’s stock worth $20,500,000 after buying an additional 208,862 shares during the period. Finally, Van ECK Associates Corp raised its holdings in CleanSpark by 64.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,590,688 shares of the company’s stock worth $14,857,000 after buying an additional 620,792 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

CleanSpark Company Profile

(Get Free Report)

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.

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