Cleanspark (NASDAQ:CLSK) Receives Buy Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $19.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Weiss Ratings lowered shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Maxim Group boosted their target price on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. HC Wainwright restated a “buy” rating on shares of Cleanspark in a research report on Tuesday. Keefe, Bruyette & Woods increased their price target 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 price target on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.34.

Cleanspark Price Performance

Shares of CLSK opened at $14.13 on Wednesday. Cleanspark has a one year low of $8.00 and a one year high of $23.61. The stock’s fifty day moving average is $15.34 and its 200-day moving average is $12.41. 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 firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -6.73 and a beta of 3.83.

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

Institutional Trading of Cleanspark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Danske Bank A S acquired a new stake in Cleanspark during the fourth quarter valued at approximately $25,000. Quarry LP acquired a new position in Cleanspark in the third quarter worth approximately $26,000. Morse Asset Management Inc bought a new position in shares of Cleanspark in the third quarter valued at $32,000. Strs Ohio bought a new position in shares of Cleanspark in the first quarter valued at $38,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Cleanspark by 5,081.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after acquiring an additional 2,947 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

More Cleanspark News

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Cleanspark secured a $6.6 billion AI/data center lease with a high-investment-grade global technology customer, creating a long-term revenue stream and signaling a shift toward recurring infrastructure income. CleanSpark Secures Twenty-Year Lease with High-Investment Grade Global Technology Company for Data Center in Sandersville, Georgia
• Positive Sentiment: Analysts turned more bullish after the deal, with several firms raising price targets and reiterating buy ratings, reinforcing the view that the stock may have more upside if the company executes. B. Riley pegs CleanSpark at $19 after $6.6 billion HPC lease
• Positive Sentiment: The broader market is also rewarding Bitcoin miners that can monetize existing power infrastructure for AI demand, which supports the idea that CleanSpark’s assets may be worth more than traditional mining valuations imply. Bitcoin Miners Cash In as AI Hits a Power Bottleneck
• Neutral Sentiment: Commentary suggests the move is promising but execution matters, since the lease won’t generate meaningful revenue until later and CleanSpark still faces sizable buildout and financing requirements. CleanSpark: Multi-Year AI Deal Is A Strong Start, But Execution Is What Matters
• Neutral Sentiment: Recent coverage noted heavy trading volume and a sharp move higher, but some analysts warned that the stock may not continue rising immediately after the initial reaction. CleanSpark (CLSK) Surges 8.8%: Is This an Indication of Further Gains?

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.