Cleanspark (NASDAQ:CLSK) Price Target Lowered to $14.00 at Keefe, Bruyette & Woods

Cleanspark (NASDAQ:CLSK) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $18.00 to $14.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 38.89% from the stock’s current price.

Several other research firms have also weighed in on CLSK. Maxim Group initiated coverage on shares of Cleanspark in a research note on Thursday, January 8th. They set a “buy” rating and a $22.00 price objective on the stock. B. Riley Financial dropped their price objective on shares of Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Cantor Fitzgerald dropped their target price on Cleanspark from $21.00 to $17.00 and set an “overweight” rating for the company in a report on Friday. Finally, Needham & Company LLC lowered their price target on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.83.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $10.08 on Monday. The business has a fifty day simple moving average of $12.32 and a 200 day simple moving average of $12.99. Cleanspark has a one year low of $6.45 and a one year high of $23.61. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -9.42 and a beta of 3.47.

Insider Buying and Selling

In other news, Director Thomas Leigh Wood sold 85,315 shares of the firm’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 value of $997,332.35. Following the transaction, the director owned 41,421 shares in the company, valued at $484,211.49. This trade represents a 67.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the transaction, the director directly owned 107,289 shares in the company, valued at approximately $1,611,480.78. The trade was a 23.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. lifted its position in shares of Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after acquiring an additional 937 shares in the last quarter. Danske Bank A S purchased a new position in shares of Cleanspark during the fourth quarter worth approximately $25,000. Quarry LP bought a new position in Cleanspark during the 3rd quarter worth approximately $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Cleanspark in the second quarter worth $29,000. Finally, Salomon & Ludwin LLC purchased a new stake in Cleanspark during the 3rd quarter valued at $32,000. 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.