Cleanspark (NASDAQ:CLSK) Now Covered by Maxim Group

Maxim Group initiated coverage on shares of Cleanspark (NASDAQ:CLSK) in a report published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $22.00 price objective on the stock.

CLSK has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $21.00 price target on shares of Cleanspark in a report on Wednesday, November 26th. Wall Street Zen lowered Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Macquarie reduced their target price on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. HC Wainwright lowered their price target on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Finally, Sanford C. Bernstein boosted their price objective on shares of Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.10.

Cleanspark Price Performance

NASDAQ CLSK opened at $11.99 on Thursday. The company has a market cap of $3.06 billion, a PE ratio of 10.80 and a beta of 3.47. The firm’s 50 day moving average price is $12.82 and its 200-day moving average price is $12.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.18 and a current ratio of 4.18. Cleanspark has a 52-week low of $6.45 and a 52-week high of $23.61.

Insider Activity at Cleanspark

In related news, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the completion of the sale, the director directly owned 107,289 shares in the company, valued at $1,611,480.78. This trade represents a 23.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the transaction, the director owned 41,421 shares in the company, valued at $484,211.49. The trade was a 67.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.65% of the company’s stock.

Institutional Trading of Cleanspark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSK. Baird Financial Group Inc. grew its stake in shares of Cleanspark by 191.6% during the 2nd quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock worth $3,530,000 after purchasing an additional 210,307 shares during the period. Rhumbline Advisers boosted its holdings in Cleanspark by 115.8% during the first quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock worth $4,844,000 after buying an additional 386,809 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Cleanspark by 119.6% during the third quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock worth $4,803,000 after buying an additional 180,371 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Cleanspark by 17.3% during the second quarter. Exchange Traded Concepts LLC now owns 1,043,848 shares of the company’s stock valued at $11,514,000 after buying an additional 154,308 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Cleanspark by 620.4% in the second quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after buying an additional 47,787 shares in the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

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.