Cleanspark (NASDAQ:CLSK) Now Covered by Analysts at Citizens Jmp

Research analysts at Citizens Jmp started coverage on shares of Cleanspark (NASDAQ:CLSK) in a report released on Wednesday. The brokerage set an “outperform” rating and a $27.00 price target on the stock. Citizens Jmp’s price objective points to a potential upside of 57.07% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald reduced their target price on Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Citigroup started coverage on shares of Cleanspark in a research note on Wednesday. They issued an “outperform” rating for the company. Maxim Group increased their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research downgraded Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.12.

Cleanspark Stock Performance

Shares of Cleanspark stock opened at $17.19 on Wednesday. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -8.19 and a beta of 3.79. Cleanspark has a one year low of $8.00 and a one year high of $23.61. The business has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $12.31. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26.

Cleanspark (NASDAQ:CLSK) last issued its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. During the same quarter in the prior year, the business earned ($0.49) earnings per share. Cleanspark’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, research analysts anticipate that Cleanspark will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Cleanspark

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Cleanspark by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock valued at $377,752,000 after acquiring an additional 769,148 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cleanspark by 81.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company’s stock valued at $120,007,000 after buying an additional 6,323,715 shares during the period. Situational Awareness LP lifted its holdings in shares of Cleanspark by 648.4% during the 1st quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock valued at $104,470,000 after buying an additional 10,635,739 shares during the period. Marex Group plc boosted its stake in shares of Cleanspark by 23,812.2% in the 4th quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock worth $54,654,000 after buying an additional 5,377,976 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Cleanspark by 22.1% in the third quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock worth $64,997,000 after purchasing an additional 810,203 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.