What's Going On With CleanSpark Stock Today?

CleanSpark, Inc. CLSK shares are trading higher Thursday. The company released its third-quarter financial results on Wednesday.

What To Know:

Cleanspark reported quarterly losses of 12 cents per share, beating the analyst consensus estimate of a loss of 17 cents per share by 29.41%. The company reported quarterly sales of $45.52 million, missing the analyst consensus estimate of $45.71 million and representing a 46.72% increase over sales of $31.03 million from the same period last year.

Zach Bradford, CEO of CleanSpark, stated, "We now operate over 9 EH/s of efficient computing power at some of the industry's best all-in electric rates. That growth is translating to record-setting revenue. We have over $90 million in cash and almost 1,200 bitcoins on our balance sheet as of today. We continue to build on our longstanding track record of executing on our commitments, and I'm proud to say that this is a truly best-in-class team."

On Thursday, HC Wainwright & Co. analyst Mike Colonnese maintained Cleanspark with a Buy and raised the CLSK price target from $12 to $14.

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CLSK Price Action: According to Benzinga Pro, CleanSpark shares are trading 19.2% higher at $6.02 at the time of publication.

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