Keefe, Bruyette & Woods Has Lowered Expectations for Cleanspark (NASDAQ:CLSK) Stock Price

Cleanspark (NASDAQ:CLSK) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $18.50 to $18.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 33.83% from the stock’s current price.

A number of other research firms have also recently commented on CLSK. Chardan Capital restated a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a report on Wednesday, January 7th. Northland Securities began coverage on shares of Cleanspark in a research report on Tuesday, January 13th. They issued an “outperform” rating and a $22.50 price objective for the company. Needham & Company LLC upped their target price on shares of Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, November 26th. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Cleanspark in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cleanspark has an average rating of “Moderate Buy” and an average price target of $22.98.

Cleanspark Price Performance

Shares of CLSK stock opened at $13.45 on Tuesday. The stock has a 50 day moving average price of $12.51 and a 200 day moving average price of $13.07. Cleanspark has a 52-week low of $6.45 and a 52-week high of $23.61. 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 firm has a market capitalization of $3.44 billion, a P/E ratio of 12.12 and a beta of 3.47.

Insider Buying and Selling

In other news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total transaction of $495,660.00. Following the transaction, the director directly owned 107,289 shares in the company, valued at approximately $1,611,480.78. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the business’s 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 completion of the transaction, the director directly owned 41,421 shares of the company’s stock, valued at $484,211.49. This trade represents a 67.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Voloridge Investment Management LLC bought a new stake in Cleanspark during the third quarter valued at about $56,056,000. Dimensional Fund Advisors LP lifted its position in shares of Cleanspark by 57.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after buying an additional 1,564,761 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Cleanspark by 496.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after buying an additional 1,441,939 shares in the last quarter. Azora Capital LP bought a new position in shares of Cleanspark during the 3rd quarter worth approximately $15,300,000. Finally, SG Americas Securities LLC raised its stake in shares of Cleanspark by 739.7% during the 4th quarter. SG Americas Securities LLC now owns 1,128,257 shares of the company’s stock worth $11,418,000 after acquiring an additional 993,900 shares in the last quarter. 43.12% of the stock is owned by institutional investors.

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.