Cleanspark (NASDAQ:CLSK) Research Coverage Started at Maxim Group

Maxim Group assumed coverage on shares of Cleanspark (NASDAQ:CLSK) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $22.00 target price on the stock.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Cleanspark in a research note on Monday, December 29th. HC Wainwright reduced their target price on Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. B. Riley decreased their price target on Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Finally, BTIG Research raised their price objective on Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cleanspark presently has an average rating of “Moderate Buy” and an average target price of $23.10.

Cleanspark Stock Down 3.2%

CLSK stock opened at $11.61 on Thursday. Cleanspark has a 52 week low of $6.45 and a 52 week high of $23.61. The business has a 50-day simple moving average of $12.70 and a 200 day simple moving average of $12.96. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.97 billion, a PE ratio of 10.46 and a beta of 3.47.

Insider Buying and Selling

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the sale, the director directly owned 41,421 shares of the company’s stock, valued at $484,211.49. The trade was a 67.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total transaction of $495,660.00. Following the transaction, the director owned 107,289 shares in the company, valued at approximately $1,611,480.78. This trade represents a 23.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.65% of the company’s stock.

Institutional Investors Weigh In On Cleanspark

Large investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. boosted its stake in Cleanspark by 191.6% during the second quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock worth $3,530,000 after acquiring an additional 210,307 shares in the last quarter. Rhumbline Advisers increased its position in Cleanspark by 115.8% in the 1st quarter. Rhumbline Advisers now owns 720,903 shares of the company’s stock valued at $4,844,000 after buying an additional 386,809 shares in the last quarter. Voya Investment Management LLC raised its stake in Cleanspark by 119.6% during the 3rd quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock worth $4,803,000 after buying an additional 180,371 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Cleanspark by 17.3% in the second quarter. Exchange Traded Concepts LLC now owns 1,043,848 shares of the company’s stock worth $11,514,000 after acquiring an additional 154,308 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Cleanspark by 620.4% in the second quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after acquiring an additional 47,787 shares during the period. Institutional investors and hedge funds 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.