Cleanspark, Inc. (NASDAQ:CLSK – Get Free Report) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $21.1250.
Several research firms have recently commented on CLSK. Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods upped their price target on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Citigroup initiated coverage on Cleanspark in a research report on Wednesday, June 24th. They set an “outperform” rating on the stock. Chardan Capital lifted their price objective on Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Citizens Jmp started coverage on Cleanspark in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 target price on the stock.
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Cleanspark Stock Performance
Shares of CLSK stock traded down $1.15 during mid-day trading on Tuesday, reaching $12.37. The stock had a trading volume of 1,484,703 shares, compared to its average volume of 23,455,463. Cleanspark has a 1-year low of $8.00 and a 1-year high of $23.61. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -6.02 and a beta of 3.83. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The business’s fifty day moving average is $15.30 and its 200-day moving average is $12.35.
Cleanspark (NASDAQ:CLSK – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.35 million. During the same quarter in the prior year, the company earned ($0.49) EPS. Cleanspark’s quarterly revenue was down 24.9% on a year-over-year basis. On average, research analysts forecast that Cleanspark will post -1.19 earnings per share for the current year.
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.
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