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

Cleanspark, Inc. (NASDAQ:CLSK) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $20.5962.

CLSK has been the topic of a number of recent research reports. Macquarie Infrastructure reduced their price target on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Chardan Capital cut their price objective on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 6th. JPMorgan Chase & Co. upgraded shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, November 24th. Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Cantor Fitzgerald decreased their price objective on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, February 6th.

Insider Activity at Cleanspark

In other news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 107,289 shares of the company’s stock, valued at approximately $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Leigh Wood sold 85,315 shares of the firm’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 owned 41,421 shares in the company, valued at $484,211.49. This represents a 67.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in Cleanspark in the 1st quarter worth approximately $68,000. Caxton Associates LLP bought a new position in shares of Cleanspark during the first quarter valued at approximately $169,000. United Services Automobile Association purchased a new stake in Cleanspark in the first quarter worth $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cleanspark by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after acquiring an additional 86,229 shares in the last quarter. Finally, Strs Ohio bought a new stake in Cleanspark in the first quarter valued at $38,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $9.89 on Wednesday. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $2.53 billion, a PE ratio of -9.24 and a beta of 3.51. The business’s 50-day moving average price is $11.18 and its 200-day moving average price is $12.88. Cleanspark has a 12 month low of $6.45 and a 12 month high of $23.61.

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.