Cleanspark, Inc. (NASDAQ:CLSK) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $23.1042.

A number of research firms have issued reports on CLSK. Maxim Group assumed coverage on shares of Cleanspark in a report on Thursday, January 8th. They set a “buy” rating and a $22.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $21.00 price target on shares of Cleanspark in a research report on Wednesday, November 26th. BTIG Research upped their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cleanspark in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research note on Monday, November 24th.

Insiders Place Their Bets

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. The trade was a 67.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the company’s stock in a transaction 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 transaction, the director owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This trade represents a 23.52% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.65% of the company’s stock.

Institutional Trading of Cleanspark

A number of large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Cleanspark during the 1st quarter valued at approximately $68,000. Caxton Associates LLP purchased a new position in Cleanspark during the first quarter valued at approximately $169,000. United Services Automobile Association purchased a new position in Cleanspark during the first quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cleanspark by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock worth $4,025,000 after purchasing an additional 86,229 shares during the period. Finally, Belpointe Asset Management LLC increased its stake in shares of Cleanspark by 87.6% in the first quarter. Belpointe Asset Management LLC now owns 19,364 shares of the company’s stock worth $130,000 after purchasing an additional 9,042 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Up 3.0%

CLSK stock opened at $11.96 on Tuesday. The firm has a market capitalization of $3.06 billion, a PE ratio of 10.77 and a beta of 3.47. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.30. Cleanspark has a twelve month low of $6.45 and a twelve month high of $23.61. The stock’s 50 day moving average is $12.59 and its 200-day moving average is $12.98.

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.