Cleanspark, Inc. (NASDAQ:CLSK) Given Average Rating of “Moderate Buy” by Brokerages

Cleanspark, Inc. (NASDAQ:CLSK) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.5962.

A number of equities analysts recently commented on the stock. Chardan Capital lowered their target price 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. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings cut Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. Cantor Fitzgerald dropped 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. Finally, B. Riley Financial cut their target price on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th.

Institutional Trading of Cleanspark

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

Cleanspark Trading Down 6.9%

Shares of NASDAQ:CLSK opened at $8.66 on Friday. Cleanspark has a 52 week low of $6.45 and a 52 week high of $23.61. The company’s 50 day moving average is $10.47 and its two-hundred day moving average is $12.88. The company has a market cap of $2.21 billion, a PE ratio of -8.09 and a beta of 3.51. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29.

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.