Cleanspark’s (CLSK) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of Cleanspark (NASDAQ:CLSK) in a research note published on Wednesday,Benzinga reports. They currently have a $19.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. BTIG Research reissued a “buy” rating and issued a $26.00 price objective on shares of Cleanspark in a research note on Tuesday. Needham & Company LLC raised their price objective on Cleanspark from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup initiated coverage on Cleanspark in a research note on Wednesday, June 24th. They set an “outperform” rating on the stock. Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Maxim Group increased their price target on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.34.

Cleanspark Price Performance

Shares of CLSK stock opened at $13.03 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The company has a market capitalization of $3.34 billion, a P/E ratio of -6.20 and a beta of 3.83. The company’s 50-day simple moving average is $15.30 and its two-hundred day simple moving average is $12.43. Cleanspark has a one year low of $8.00 and a one year high of $23.61.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.35 million. During the same period in the prior year, the firm posted ($0.49) EPS. The business’s revenue was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Cleanspark will post -1.19 EPS for the current year.

Institutional Investors Weigh In On Cleanspark

A number of large investors have recently made changes to their positions in the stock. Danske Bank A S purchased a new stake in Cleanspark during the 4th quarter valued at about $25,000. Quarry LP acquired a new stake in Cleanspark during the 3rd quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark in the 3rd quarter valued at $32,000. Strs Ohio acquired a new stake in Cleanspark during the 1st quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC raised its position in Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after acquiring an additional 2,947 shares in the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

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.