Brokerages Set Cleanspark, Inc. (NASDAQ:CLSK) Price Target at $21.12

Cleanspark, Inc. (NASDAQ:CLSK) has been given an average rating of “Moderate Buy” by the seventeen analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.1250.

Several research analysts have recently issued reports on CLSK shares. BTIG Research reaffirmed a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research note on Tuesday, May 12th. Citigroup began coverage on shares of Cleanspark in a research report on Wednesday, June 24th. They set an “outperform” rating on the stock. Chardan Capital restated a “buy” rating and set a $19.00 price objective on shares of Cleanspark in a report on Wednesday. Keefe, Bruyette & Woods upped their target price on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Needham & Company LLC increased their target price on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 4th.

Institutional Investors Weigh In On Cleanspark

Several institutional investors have recently bought and sold shares of CLSK. Dimensional Fund Advisors LP boosted its position in Cleanspark by 81.3% in 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 last quarter. Situational Awareness LP boosted its stake 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 last quarter. Marex Group plc grew its position in shares of Cleanspark by 23,812.2% during the fourth 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 in the last quarter. Invesco Ltd. raised its stake in Cleanspark by 22.1% during the third quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock valued at $64,997,000 after buying an additional 810,203 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Cleanspark by 13.3% in the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock valued at $63,313,000 after acquiring an additional 514,062 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Stock Down 0.3%

NASDAQ CLSK traded down $0.04 during trading on Tuesday, reaching $12.85. 13,290,890 shares of the company’s stock were exchanged, compared to its average volume of 16,920,206. Cleanspark has a 1 year low of $8.00 and a 1 year high of $23.61. The stock has a market cap of $3.30 billion, a P/E ratio of -6.12 and a beta of 3.83. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. The company has a 50 day moving average price of $15.35 and a two-hundred day moving average price of $12.37.

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

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.