Cleanspark, Inc. (NASDAQ:CLSK) Receives $20.60 Average Target Price from Analysts

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have received an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $20.5962.

A number of research firms have recently commented on CLSK. Chardan Capital reduced their price objective on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 6th. B. Riley Financial lowered their target price on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Keefe, Bruyette & Woods dropped their price target on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Cantor Fitzgerald cut their price target on shares of Cleanspark from $21.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Maxim Group initiated coverage on Cleanspark in a report on Thursday, January 8th. They set a “buy” rating and a $22.00 price objective on the stock.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $8.79 on Friday. The firm has a fifty day simple moving average of $10.01 and a 200-day simple moving average of $12.82. 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 has a 1-year low of $6.45 and a 1-year high of $23.61. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -8.21 and a beta of 3.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. raised its stake in shares of Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after acquiring an additional 937 shares during the last quarter. Danske Bank A S bought a new position in Cleanspark in the 4th quarter worth approximately $25,000. Quarry LP bought a new position in Cleanspark in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Cleanspark during the 3rd quarter worth $32,000. Finally, Morse Asset Management Inc acquired a new position in Cleanspark during the 3rd quarter worth $32,000. 43.12% of the stock is owned by institutional investors and hedge funds.

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.