Brokerages Set Cleanspark, Inc. (NASDAQ:CLSK) PT at $21.13

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.6964.

A number of research analysts recently commented on CLSK shares. Maxim Group began coverage on Cleanspark in a research note on Thursday, January 8th. They issued a “buy” rating and a $22.00 target price for the company. B. Riley Securities dropped their price objective on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Research downgraded shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Weiss Ratings lowered shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Monday, November 24th.

Cleanspark Trading Up 5.8%

Cleanspark stock opened at $9.85 on Friday. The business has a 50 day moving average price of $11.88 and a two-hundred day moving average price of $12.89. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. Cleanspark has a 12 month low of $6.45 and a 12 month high of $23.61. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -9.21 and a beta of 3.47.

Insider Buying and Selling

In other Cleanspark news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 107,289 shares in the company, valued at $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Leigh Wood sold 85,315 shares of Cleanspark stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director directly owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. The trade was a 67.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Cleanspark

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in Cleanspark in the first quarter valued at about $68,000. Caxton Associates LLP acquired a new position in shares of Cleanspark in the 1st quarter worth approximately $169,000. United Services Automobile Association bought a new stake in Cleanspark during the 1st quarter worth approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cleanspark by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock worth $4,025,000 after acquiring an additional 86,229 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Cleanspark during the 1st quarter valued at $38,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.