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

Cleanspark, Inc. (NASDAQ:CLSK) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and twelve have issued a 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 $23.1042.

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein upped their price objective on Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Chardan Capital reissued a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a report on Wednesday, January 7th. Maxim Group initiated coverage on shares of Cleanspark in a report on Thursday, January 8th. They set a “buy” rating and a $22.00 price objective for the company. BTIG Research lifted their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. raised shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a report on Monday, November 24th.

Cleanspark Trading Up 3.0%

Shares of CLSK stock opened at $11.96 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.18 and a current ratio of 4.18. The stock has a fifty day simple moving average of $12.59 and a two-hundred day simple moving average of $12.98. The firm has a market capitalization of $3.06 billion, a PE ratio of 10.77 and a beta of 3.47. Cleanspark has a 52-week low of $6.45 and a 52-week high of $23.61.

Insider Buying and Selling at Cleanspark

In other news, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $15.02, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total value of $997,332.35. Following the completion of the sale, the director owned 41,421 shares in the company, valued at $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. 2.65% of the stock is owned by insiders.

Institutional Trading of Cleanspark

Large investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its position in shares of Cleanspark by 191.6% during the 2nd quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock valued at $3,530,000 after acquiring an additional 210,307 shares during the last quarter. Voya Investment Management LLC raised its stake in Cleanspark by 119.6% during the third quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock valued at $4,803,000 after purchasing an additional 180,371 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Cleanspark by 17.3% during the second quarter. Exchange Traded Concepts LLC now owns 1,043,848 shares of the company’s stock valued at $11,514,000 after purchasing an additional 154,308 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Cleanspark by 620.4% during the second quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after purchasing an additional 47,787 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Cleanspark in the 2nd quarter worth $2,105,000. Institutional investors own 43.12% of the company’s stock.

About Cleanspark

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.