Cleanspark (NASDAQ:CLSK) Given “Buy” Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $16.00 price target on the stock.

CLSK has been the topic of a number of other reports. Keefe, Bruyette & Woods cut their target price on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Maxim Group assumed coverage on shares of Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 target price on the stock. Needham & Company LLC cut their target price on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Weiss Ratings downgraded shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. Finally, Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.60.

Cleanspark Stock Performance

Cleanspark stock opened at $9.88 on Wednesday. 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 $6.56 and a 1 year high of $23.61. The company has a market cap of $2.53 billion, a PE ratio of -9.23 and a beta of 3.53. The company’s 50-day moving average is $9.79 and its two-hundred day moving average is $12.74.

Institutional Trading of Cleanspark

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