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

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

Several equities research analysts have issued reports on CLSK shares. Cantor Fitzgerald dropped their target price on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Chardan Capital decreased their price objective on Cleanspark from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Maxim Group started coverage on Cleanspark in a research note on Thursday, January 8th. They issued a “buy” rating and a $22.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on 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 report on Tuesday, January 13th. They issued an “outperform” rating and a $22.50 price target on the stock.

Cleanspark Stock Performance

NASDAQ CLSK opened at $9.89 on Wednesday. The firm has a market cap of $2.53 billion, a P/E ratio of -9.24 and a beta of 3.51. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The company’s 50 day moving average is $11.18 and its 200-day moving average is $12.88. Cleanspark has a 12-month low of $6.45 and a 12-month high of $23.61.

Insider Buying and Selling

In related news, Director Thomas Leigh Wood sold 85,315 shares of the 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 sale, the director owned 41,421 shares in the company, valued at approximately $484,211.49. This trade represents a 67.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amanda Cavaleri sold 33,000 shares of Cleanspark 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 sale, the director directly owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This represents a 23.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.08% of the company’s stock.

Institutional Trading of Cleanspark

Institutional investors and hedge funds have recently modified their holdings of the business. Marex Group plc grew its holdings in shares of Cleanspark by 23,812.2% during the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock worth $54,654,000 after purchasing an additional 5,377,976 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Cleanspark in the 3rd quarter worth approximately $56,056,000. Dimensional Fund Advisors LP increased its holdings in shares of Cleanspark by 80.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock worth $78,731,000 after buying an additional 3,467,841 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Cleanspark during the 4th quarter valued at $26,125,000. Finally, Situational Awareness LP bought a new stake in shares of Cleanspark during the 4th quarter worth $16,601,000. 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.