Cleanspark, Inc. (CLSK) – What Are Researchers Thinking About This Stock?

Cleanspark, Inc. (NASDAQ:CLSK) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.35.

A number of analysts have commented on the company. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp initiated coverage on Cleanspark in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 target price for the company. BTIG Research reissued a “buy” rating and set a $26.00 target price on shares of Cleanspark in a research note on Tuesday, July 14th. B. Riley Financial lifted their price target on shares of Cleanspark from $19.00 to $26.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Chardan Capital restated a “buy” rating and issued a $21.00 target price on shares of Cleanspark in a report on Monday, August 10th.

Insider Activity at Cleanspark

In other news, COO Taylor Monnig sold 25,249 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $13.34, for a total transaction of $336,821.66. Following the transaction, the chief operating officer owned 236,114 shares of the company’s stock, valued at approximately $3,149,760.76. The trade was a 9.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 33,151 shares of company stock valued at $435,473. 2.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GK Wealth Management LLC bought a new position in Cleanspark during the 3rd quarter worth about $52,000. GAMMA Investing LLC boosted its holdings in shares of Cleanspark by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 20,844 shares of the company’s stock valued at $268,000 after buying an additional 4,146 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Cleanspark by 54.2% in the 3rd quarter. CoreCap Advisors LLC now owns 8,584 shares of the company’s stock valued at $111,000 after buying an additional 3,019 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of Cleanspark by 21.3% in the 3rd quarter. Congress Asset Management Co. now owns 508,982 shares of the company’s stock valued at $6,556,000 after buying an additional 89,240 shares in the last quarter. Finally, CX Institutional boosted its holdings in shares of Cleanspark by 4.3% in the 3rd quarter. CX Institutional now owns 19,462 shares of the company’s stock valued at $251,000 after buying an additional 804 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Trading Up 0.7%

Shares of CLSK stock opened at $8.46 on Thursday. Cleanspark has a 12-month low of $8.00 and a 12-month high of $22.69. The company has a debt-to-equity ratio of 2.34, a quick ratio of 5.91 and a current ratio of 5.91. The firm’s 50 day moving average is $12.23 and its 200 day moving average is $13.34.

Cleanspark (NASDAQ:CLSK) last posted its earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). The company had revenue of $138.01 million during the quarter, compared to the consensus estimate of $142.37 million. Cleanspark had a negative return on equity of 18.63% and a negative net margin of 146.90%. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, equities analysts expect that Cleanspark will post -1.40 earnings per share for the current fiscal year.

Cleanspark Company Profile

CleanSpark, Inc is a U.S.-based bitcoin mining and energy technology company traded on the Nasdaq under the symbol CLSK. Its primary business is operating data centers that use specialized computing equipment to validate transactions on the Bitcoin network and earn bitcoin as a reward.

The company develops and operates its mining infrastructure in the United States, with facilities and operations located across several states. CleanSpark focuses on expanding and optimizing its data-center capacity, managing energy usage, and securing power resources to support its mining activities.

Before emphasizing bitcoin mining, CleanSpark was associated with energy-management and distributed-energy technologies designed to help businesses and communities improve energy efficiency and resilience.