Cleanspark, Inc. (NASDAQ:CLSK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Cleanspark, Inc. (NASDAQ:CLSK) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.5962.

CLSK has been the subject of a number of research analyst reports. Chardan Capital lowered their target price on Cleanspark from $30.00 to $16.00 and set a “buy” rating for the company in a report on Friday, February 6th. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Cantor Fitzgerald lowered their price objective 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. Keefe, Bruyette & Woods dropped their price objective on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Finally, Northland Securities started coverage on shares of Cleanspark in a research note on Tuesday, January 13th. They set an “outperform” rating and a $22.50 target price on the stock.

Cleanspark Trading Down 6.9%

Shares of NASDAQ CLSK opened at $8.66 on Friday. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $2.21 billion, a PE ratio of -8.09 and a beta of 3.51. Cleanspark has a twelve month low of $6.45 and a twelve month high of $23.61. The stock has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $12.88.

Institutional Trading of Cleanspark

A number of large investors have recently modified their holdings of CLSK. Hantz Financial Services Inc. boosted its holdings in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the period. Quarry LP purchased a new stake in Cleanspark during the 3rd quarter worth about $26,000. Salomon & Ludwin LLC acquired a new stake in Cleanspark in the 3rd quarter valued at about $32,000. Morse Asset Management Inc acquired a new stake in Cleanspark in the 3rd quarter valued at about $32,000. Finally, Danske Bank A S purchased a new position in shares of Cleanspark in the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

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.