Cleanspark, Inc. (NASDAQ:CLSK) Receives $23.20 Average Price Target from Analysts

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $23.2045.

CLSK has been the topic of several research reports. Macquarie reduced their price objective on Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price target on shares of Cleanspark in a research report on Wednesday, November 26th. JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Monday, November 24th. Sanford C. Bernstein lifted their price objective on Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Chardan Capital reiterated a “buy” rating and set a $30.00 target price on shares of Cleanspark in a report on Wednesday, November 26th.

Insider Buying and Selling

In other news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were 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 trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was 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 $484,211.49. This trade represents a 67.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cleanspark

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cleanspark by 22.8% in the first quarter. Vanguard Group Inc. now owns 24,145,612 shares of the company’s stock valued at $162,259,000 after acquiring an additional 4,489,866 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cleanspark by 26.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,117,672 shares of the company’s stock worth $20,951,000 after purchasing an additional 652,811 shares during the period. Deutsche Bank AG grew its position in Cleanspark by 5.9% during the 1st quarter. Deutsche Bank AG now owns 368,142 shares of the company’s stock worth $2,474,000 after purchasing an additional 20,661 shares during the last quarter. Swiss National Bank increased its stake in Cleanspark by 13.8% in the first quarter. Swiss National Bank now owns 566,800 shares of the company’s stock valued at $3,809,000 after purchasing an additional 68,900 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Cleanspark by 20.5% in the first quarter. Invesco Ltd. now owns 3,597,402 shares of the company’s stock valued at $24,175,000 after buying an additional 613,040 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

Shares of CLSK stock opened at $11.42 on Friday. The company has a market capitalization of $2.92 billion, a P/E ratio of 10.28 and a beta of 3.79. The company’s 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $12.80. Cleanspark has a one year low of $6.45 and a one year high of $23.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18.

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.