Cleanspark, Inc. (NASDAQ:CLSK) Receives Average Rating of “Moderate Buy” from Brokerages

Cleanspark, Inc. (NASDAQ:CLSK) has earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $20.5962.

Several equities analysts recently issued reports on CLSK shares. Northland Securities started coverage on Cleanspark in a research report on Tuesday, January 13th. They issued an “outperform” rating and a $22.50 target price on the stock. Cantor Fitzgerald dropped their price target on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Keefe, Bruyette & Woods cut their price objective on Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price objective for the company in a research note on Monday, November 24th. Finally, Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th.

Insider Transactions at Cleanspark

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the completion of the transaction, the director directly owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. This trade represents a 67.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.08% of the company’s stock.

Institutional Trading of Cleanspark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its position in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the period. Danske Bank A S acquired a new stake in Cleanspark during the 4th quarter worth about $25,000. Quarry LP acquired a new stake in Cleanspark during the 3rd quarter worth about $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Cleanspark during the 2nd quarter valued at about $29,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Cleanspark during the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Cleanspark Trading Down 7.4%

NASDAQ:CLSK opened at $9.21 on Wednesday. Cleanspark has a 12 month low of $6.45 and a 12 month high of $23.61. The firm has a fifty day simple moving average of $11.10 and a 200-day simple moving average of $12.88. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.36 billion, a P/E ratio of -8.61 and a beta of 3.51.

Cleanspark Company Profile

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.