Cleanspark, Inc. (NASDAQ:CLSK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Cleanspark, Inc. (NASDAQ:CLSK) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.6964.

A number of research analysts have recently commented on CLSK shares. HC Wainwright dropped their target price on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Sanford C. Bernstein upped their price objective on shares of Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Cantor Fitzgerald dropped their price objective on shares of Cleanspark from $21.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Keefe, Bruyette & Woods cut their target price on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Wall Street Zen downgraded shares of Cleanspark from a “hold” rating to a “sell” rating in a report on Friday, November 28th.

Insider Transactions at Cleanspark

In related news, Director Amanda Cavaleri sold 33,000 shares of the firm’s 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 completion of the transaction, the director owned 107,289 shares in the company, valued at $1,611,480.78. This trade represents a 23.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Leigh Wood sold 85,315 shares of Cleanspark 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 sale, the director owned 41,421 shares in the company, valued at approximately $484,211.49. This represents a 67.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cleanspark

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Cleanspark by 38.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after purchasing an additional 745 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Cleanspark by 4.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock worth $291,000 after purchasing an additional 781 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Cleanspark by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock worth $375,000 after buying an additional 873 shares during the period. GAMMA Investing LLC grew its position in shares of Cleanspark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 12,915 shares of the company’s stock valued at $187,000 after buying an additional 932 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after buying an additional 937 shares during the period. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Trading Down 4.1%

Shares of CLSK opened at $9.62 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. Cleanspark has a 52-week low of $6.45 and a 52-week high of $23.61. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -8.99 and a beta of 3.47. The business’s fifty day moving average is $12.07 and its 200-day moving average is $12.93.

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.