Cleanspark (NASDAQ:CLSK) Price Target Lowered to $14.00 at Cantor Fitzgerald

Cleanspark (NASDAQ:CLSK) had its price objective trimmed by Cantor Fitzgerald from $17.00 to $14.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Chardan Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Cleanspark in a research note on Wednesday. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings cut shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. Finally, Northland Securities initiated coverage on shares of Cleanspark in a research note on Tuesday, January 13th. They issued an “outperform” rating and a $22.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.37.

Cleanspark Stock Up 3.2%

Shares of CLSK stock opened at $10.20 on Thursday. The company has a 50 day simple moving average of $9.74 and a two-hundred day simple moving average of $12.73. 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 cap of $2.61 billion, a P/E ratio of -9.53 and a beta of 3.53. Cleanspark has a 12 month low of $6.94 and a 12 month high of $23.61.

Hedge Funds Weigh In On Cleanspark

A number of hedge funds and other institutional investors have recently modified their holdings of CLSK. Integrated Wealth Concepts LLC bought a new position in shares of Cleanspark during the first quarter worth $68,000. Caxton Associates LLP bought a new position in shares of Cleanspark during the first quarter worth $169,000. United Services Automobile Association bought a new position in shares of Cleanspark during the first quarter worth $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Cleanspark by 16.8% during 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 acquiring an additional 86,229 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Cleanspark during the first quarter worth $38,000. Institutional investors 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.