Analysts Set Cleanspark, Inc. (NASDAQ:CLSK) Price Target at $20.37

Cleanspark, Inc. (NASDAQ:CLSK) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.3654.

Several brokerages have issued reports on CLSK. Weiss Ratings downgraded Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th. Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Cleanspark in a report on Wednesday, April 8th. B. Riley Financial decreased their price objective on Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Finally, Keefe, Bruyette & Woods decreased their price objective on Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, February 9th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. X Square Capital LLC bought a new position in shares of Cleanspark during the third quarter worth about $2,900,000. Voya Investment Management LLC grew its holdings 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 buying an additional 180,371 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Cleanspark by 201.8% during the third quarter. SG Americas Securities LLC now owns 134,357 shares of the company’s stock worth $1,948,000 after buying an additional 89,843 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock worth $25,118,000 after buying an additional 1,441,939 shares in the last quarter. Finally, Benchmark Financial LLC bought a new position in shares of Cleanspark during the fourth quarter worth about $1,255,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Up 4.3%

Shares of Cleanspark stock opened at $12.76 on Thursday. Cleanspark has a 1 year low of $7.82 and a 1 year high of $23.61. The business has a 50-day moving average of $10.06 and a two-hundred day moving average of $12.45. The company has a market capitalization of $3.26 billion, a P/E ratio of -11.93 and a beta of 3.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54.

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.