Needham & Company LLC Forecasts Strong Price Appreciation for Cleanspark (NASDAQ:CLSK) Stock

Cleanspark (NASDAQ:CLSK) had its target price lifted by Needham & Company LLC from $18.00 to $23.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 78.29% from the stock’s previous close.

A number of other equities analysts also recently commented on CLSK. Chardan Capital restated a “buy” rating and issued a $19.00 price objective on shares of Cleanspark in a report on Wednesday, July 8th. Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Cantor Fitzgerald decreased their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Citigroup assumed coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They set an “outperform” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price target on shares of Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Cleanspark has an average rating of “Moderate Buy” and an average price target of $22.34.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $12.90 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. Cleanspark has a one year low of $8.00 and a one year high of $23.61. The business’s 50-day moving average price is $15.32 and its two-hundred day moving average price is $12.43. The company has a market capitalization of $3.31 billion, a P/E ratio of -6.14 and a beta of 3.83.

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 analysts’ consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to analysts’ expectations of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period last year, the business earned ($0.49) earnings per share. Analysts anticipate that Cleanspark will post -1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in shares of Cleanspark in the 1st quarter valued at approximately $68,000. Caxton Associates LLP bought a new stake in Cleanspark during the first quarter worth approximately $169,000. United Services Automobile Association bought a new stake in Cleanspark during the first quarter worth approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 valued at $4,025,000 after purchasing an additional 86,229 shares during the last quarter. Finally, Strs Ohio acquired a new position in Cleanspark during the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Trending Headlines about Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: CleanSpark announced a $6.6 billion, 20-year triple-net lease for AI data center capacity in Georgia, with projected annual net operating income of about $330 million starting in 2027. Article Title
• Positive Sentiment: Analysts turned more bullish after the deal, with B. Riley raising its target to $19 and Needham increasing its target to $23, both signaling meaningful upside from recent levels. Article Title
• Positive Sentiment: BTIG Research also initiated a Buy rating, reinforcing the view that the company’s AI-hosting strategy could improve its growth profile and valuation. Article Title

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.