Cleanspark, Inc. (NASDAQ:CLSK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.8846.

CLSK has been the topic of several research analyst reports. Chardan Capital reiterated a “buy” rating and set a $21.00 price target on shares of Cleanspark in a research note on Monday, August 10th. Keefe, Bruyette & Woods raised their price objective on Cleanspark from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. HC Wainwright reiterated a “buy” rating on shares of Cleanspark in a research report on Friday, August 7th. Finally, B. Riley Financial increased their price target on shares of Cleanspark from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd.

Cleanspark Price Performance

Shares of CLSK opened at $11.06 on Wednesday. The firm has a market capitalization of $2.84 billion, a PE ratio of -2.93 and a beta of 3.85. The company has a debt-to-equity ratio of 2.34, a current ratio of 5.91 and a quick ratio of 2.11. Cleanspark has a 1-year low of $8.00 and a 1-year high of $23.61. The company’s fifty day moving average price is $13.22 and its 200-day moving average price is $12.71.

Cleanspark (NASDAQ:CLSK) last released its earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The firm had revenue of $138.01 million during the quarter, compared to analyst estimates of $142.37 million. Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. Cleanspark’s revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. On average, equities research analysts predict that Cleanspark will post -1.4 EPS for the current year.

Institutional Trading of Cleanspark

Several large investors have recently made changes to their positions in CLSK. Situational Awareness LP raised its holdings in shares of Cleanspark by 648.4% during the first quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock worth $104,470,000 after purchasing an additional 10,635,739 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cleanspark by 81.3% in the first quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company’s stock valued at $120,007,000 after purchasing an additional 6,323,715 shares during the last quarter. Marex Group plc boosted its holdings in Cleanspark by 23,812.2% in the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock valued at $54,654,000 after purchasing an additional 5,377,976 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Cleanspark by 1,290.7% in the second quarter. California State Teachers Retirement System now owns 4,181,583 shares of the company’s stock valued at $60,842,000 after purchasing an additional 3,880,895 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Cleanspark during the 3rd quarter worth about $56,056,000. 43.12% of the stock is 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.