CleanSpark (NASDAQ:CLSK) Shares Gap Up – Here’s What Happened

by · The Markets Daily

CleanSpark, Inc. (NASDAQ:CLSK – Get Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $11.32, but opened at $11.94. CleanSpark shares last traded at $11.67, with a volume of 5,062,174 shares traded.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Analysis on CleanSpark

CleanSpark Price Performance

The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -19.21 and a beta of 4.16. The business has a fifty day moving average of $12.97 and a 200 day moving average of $13.15.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CLSK. National Bank of Canada FI increased its position in CleanSpark by 470.9% during the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock worth $41,000 after buying an additional 2,119 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of CleanSpark during the 2nd quarter valued at about $48,000. KBC Group NV raised its stake in shares of CleanSpark by 42.0% in the 3rd quarter. KBC Group NV now owns 7,403 shares of the company’s stock valued at $69,000 after acquiring an additional 2,190 shares in the last quarter. Amalgamated Bank lifted its holdings in CleanSpark by 18.4% in the 2nd quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock worth $122,000 after purchasing an additional 1,194 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in CleanSpark by 21.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock worth $75,000 after purchasing an additional 1,345 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

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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