Cleanspark (NASDAQ:CLSK) Upgraded to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Cleanspark (NASDAQ:CLSK) to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

CLSK has been the topic of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price objective on shares of Cleanspark in a research report on Wednesday, November 26th. Wall Street Zen cut Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Maxim Group initiated coverage on Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 target price on the stock. Northland Securities started coverage on Cleanspark in a report on Tuesday. They issued an “outperform” rating and a $22.50 target price on the stock. Finally, Macquarie decreased their price target on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $23.06.

Cleanspark Stock Up 8.3%

Shares of Cleanspark stock traded up $1.04 during trading on Tuesday, reaching $13.59. 24,178,357 shares of the company traded hands, compared to its average volume of 25,273,342. The firm has a market capitalization of $3.47 billion, a PE ratio of 12.05 and a beta of 3.47. Cleanspark has a 1-year low of $6.45 and a 1-year high of $23.61. The company has a 50 day moving average price of $12.51 and a 200-day moving average price of $12.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18.

Insiders Place Their Bets

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the completion of the sale, the director owned 41,421 shares in the company, 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 is accessible through the SEC website. Also, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total transaction of $495,660.00. Following the transaction, the director directly owned 107,289 shares in the company, valued at approximately $1,611,480.78. This represents a 23.52% decrease in their position. The SEC filing for this sale provides additional information. 2.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSK. Hantz Financial Services Inc. increased its stake in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after purchasing an additional 937 shares during the last quarter. Quarry LP bought a new position in Cleanspark during the third quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Cleanspark during the second quarter valued at $29,000. Fifth Third Bancorp increased its position in Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after buying an additional 1,694 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Cleanspark in the third quarter valued at $32,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

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.