Cleanspark’s (CLSK) Buy Rating Reiterated at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research report report published on Wednesday,Benzinga reports. Chardan Capital currently has a $30.00 target price on the stock.

CLSK has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $21.00 target price on shares of Cleanspark in a report on Wednesday, November 26th. Needham & Company LLC upped their price objective on Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. JPMorgan Chase & Co. raised Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, November 24th. B. Riley lowered their price target on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, HC Wainwright cut their price objective on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

Cleanspark Trading Down 3.2%

Shares of NASDAQ:CLSK opened at $11.61 on Wednesday. Cleanspark has a 52 week low of $6.45 and a 52 week high of $23.61. The company’s 50 day moving average is $12.70 and its two-hundred day moving average is $12.93. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.97 billion, a PE ratio of 10.46 and a beta of 3.47.

Insider Buying and Selling

In other news, 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 $484,211.49. The trade was a 67.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the director owned 107,289 shares of the company’s stock, valued at approximately $1,611,480.78. This represents a 23.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. lifted its position in Cleanspark by 191.6% during the 2nd quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock worth $3,530,000 after acquiring an additional 210,307 shares during the period. Rhumbline Advisers raised its stake in shares of Cleanspark by 115.8% during the first quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock worth $4,844,000 after purchasing an additional 386,809 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Cleanspark by 119.6% during the third quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock worth $4,803,000 after purchasing an additional 180,371 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Cleanspark by 17.3% during the second quarter. Exchange Traded Concepts LLC now owns 1,043,848 shares of the company’s stock worth $11,514,000 after purchasing an additional 154,308 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Cleanspark by 620.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after buying an additional 47,787 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

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.