CleanSpark (NASDAQ:CLSK) Stock Price Up 3.9% – What’s Next?

CleanSpark, Inc. (NASDAQ:CLSK)’s stock price traded up 3.9% on Wednesday . The stock traded as high as $10.83 and last traded at $10.66. 14,608,244 shares changed hands during trading, a decline of 54% from the average session volume of 31,671,033 shares. The stock had previously closed at $10.26.

Analyst Ratings Changes

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

CleanSpark Trading Up 3.9 %

The firm has a market capitalization of $3.12 billion, a PE ratio of -18.38 and a beta of 4.16. The business has a 50-day moving average of $12.96 and a 200 day moving average of $13.07.

Institutional Trading of CleanSpark

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management raised its position in CleanSpark by 33.3% in the third quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. FMR LLC grew its holdings in CleanSpark by 5.0% during the third quarter. FMR LLC now owns 24,729 shares of the company’s stock valued at $231,000 after purchasing an additional 1,170 shares during the period. Amalgamated Bank raised its stake in shares of CleanSpark by 18.4% in the second quarter. Amalgamated Bank now owns 7,667 shares of the company’s stock valued at $122,000 after buying an additional 1,194 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of CleanSpark by 21.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,689 shares of the company’s stock valued at $75,000 after buying an additional 1,345 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in CleanSpark by 2.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,981 shares of the company’s stock worth $635,000 after acquiring an additional 1,709 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

About CleanSpark

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.