Cleanspark (NASDAQ:CLSK) Trading Up 20% – Still a Buy?

Cleanspark, Inc. (NASDAQ:CLSK)’s stock price rose 20% during trading on Thursday . The stock traded as high as $14.56 and last traded at $14.4160. 5,861,146 shares traded hands during trading, a decline of 75% from the average daily volume of 23,562,352 shares. The stock had previously closed at $12.01.

Cleanspark News Summary

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on CleanSpark from $16 to $25 and assigned an “outperform” rating, implying substantial potential appreciation from recent levels. Benzinga analyst target report
• Positive Sentiment: Chardan Capital also projected strong price appreciation, adding to the favorable analyst backdrop supporting CLSK. Chardan Capital forecasts strong price appreciation
• Positive Sentiment: Analyst commentary argues that CleanSpark’s recently announced $6.6 billion, 20-year triple-net lease for 175 megawatts in Sandersville validates demand for AI data centers and could provide a significant recurring-revenue opportunity. Additional Texas capacity could offer further upside if successfully leased. CleanSpark infrastructure lease valuation analysis
• Neutral Sentiment: Recent coverage highlights heightened investor attention and broadly favorable broker opinions, but notes that analyst recommendations should be weighed alongside CleanSpark’s operating results and execution risks. Zacks broker opinion analysis
• Negative Sentiment: Some analysts downgraded CleanSpark from “strong buy” to “buy” because near-term catalysts may be limited. The AI pivot may require substantial capital, creating dilution risk, while grid constraints and the time required to energize facilities could delay revenue generation. CleanSpark also recently reported a larger-than-expected quarterly loss and lower-than-expected revenue, underscoring execution risk. CleanSpark AI pivot and dilution risk analysis

Analysts Set New Price Targets

Several research firms have issued reports on CLSK. Maxim Group upped their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. BTIG Research reiterated a “buy” rating and set a $26.00 target price on shares of Cleanspark in a research report on Tuesday, July 14th. Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. HC Wainwright reissued a “buy” rating on shares of Cleanspark in a research report on Tuesday, July 14th. Finally, Citizens Jmp initiated coverage on Cleanspark in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.35.

Cleanspark Stock Performance

The firm’s 50-day moving average is $15.36 and its 200 day moving average is $12.62. The stock has a market cap of $3.70 billion, a PE ratio of -6.86 and a beta of 3.83. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The business had revenue of $136.41 million for the quarter, compared to analysts’ expectations of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The company’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.49) earnings per share. As a group, research analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current year.

Hedge Funds Weigh In On Cleanspark

A number of hedge funds and other institutional investors have recently made changes to their positions in CLSK. Quarry LP purchased a new stake in Cleanspark during the 3rd quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark in the third quarter valued at approximately $32,000. Danske Bank A S purchased a new stake in shares of Cleanspark during the 4th quarter worth $25,000. CIBC Private Wealth Group LLC grew its position in Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock worth $44,000 after buying an additional 2,947 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Cleanspark by 2,019.6% in the 3rd quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock worth $57,000 after acquiring an additional 3,716 shares during the period. Hedge funds and other institutional investors 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.