Chardan lowered the firm’s price target on CleanSpark (CLSK) to $20 from $26 and keeps a Buy rating on the shares following a transfer of coverage. The firm believes the company “has a great deal of financial strength and flexibility” and will be able to self-fund its mining operations and expansion with the sale of mined bitcoins and still grow its bitcoin holdings. The shares are off over 50% from their 52-week high and trade at the low-end of the peer group, the analyst tells investors in a research note.
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Read More on CLSK:
- CleanSpark call volume above normal and directionally bullish
- Mixed options sentiment in CleanSpark (CLSK), with shares down $-0.35 (-3.5%) near $9.65
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- Mixed options sentiment in CleanSpark (CLSK), with shares up $0.22 (+2.53%) near $8.90.
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