JPMorgan Chase & Co. cuts CleanSpark (NASDAQ:CLSK) price target to $10.50

CleanSpark (NASDAQ:CLSK – Free Report) price target decreased by JPMorgan Chase & Co. from $12.50 to $10.50 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

CLSK has been the subject of several other research reports. Chardan Capital reissued a buy rating and set a $26.00 target price on shares of CleanSpark in a research note on Monday, May 13th. HC Wainwright restated a buy rating and set a $27.00 target price on shares of CleanSpark in a report on Monday, August 12th. Finally, Cantor Fitzgerald cut their price target on CleanSpark from $28.00 to $23.00 and set an overweight rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Moderate Buy and a consensus price target of $18.97, according to MarketBeat.com.

Check out our latest review on CleanSpark

CleanSpark price performance

CLSK opened at $12.61 on Friday. The stock’s 50-day moving average price is $15.32 and its 200-day moving average price is $16.44. CleanSpark has a 12-month low of $3.38 and a 12-month high of $24.72.

Institutional investors are stepping into CleanSpark

Several large investors have recently bought and sold shares of the stock. American Capital Advisory LLC purchased a new position in shares of CleanSpark in the first quarter valued at approximately $32,000. National Bank of Canada FI boosted its holdings in shares of CleanSpark by 470.9% in the second quarter. National Bank of Canada FI now owns 2,569 shares of the company’s stock valued at $41,000 after acquiring an additional 2,119 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of CleanSpark in the second quarter valued at about $48,000. Russell Investments Group Ltd. boosted its holdings in shares of CleanSpark by 36.8% in the first quarter. Russell Investments Group Ltd. now owns 2,926 shares of the company’s stock valued at $62,000 after acquiring an additional 787 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of CleanSpark by 100.0% in the 4th quarter. Signaturefd LLC now owns 9,000 shares of the company’s stock valued at $99,000 after acquiring an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s shares.

CleanSpark Company Profile

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CleanSpark, Inc operates as a bitcoin miner in America. It owns and operates data centers that run primarily on low-carbon energy. Its infrastructure supports Bitcoin, a digital commodity and 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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