Brokerages Set Cleanspark, Inc. (NASDAQ:CLSK) Target Price at $21.13

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $20.8269.

Several analysts recently weighed in on CLSK shares. JPMorgan Chase & Co. upgraded shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a report on Monday, November 24th. Zacks Research cut shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Cleanspark in a research note on Monday, December 29th. Needham & Company LLC cut their price objective on Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday. 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 report on Monday, October 13th.

Cleanspark Trading Up 1.1%

Shares of NASDAQ CLSK opened at $10.19 on Friday. The stock has a market cap of $2.61 billion, a P/E ratio of -9.52 and a beta of 3.47. Cleanspark has a 52-week low of $6.45 and a 52-week high of $23.61. The firm has a 50 day moving average price of $12.24 and a two-hundred day moving average price of $12.97. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54.

Insider Buying and Selling at Cleanspark

In related news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total value of $495,660.00. Following the transaction, the director owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total transaction of $997,332.35. Following the completion of the sale, the director directly owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. This trade represents a 67.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Cleanspark

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after buying an additional 937 shares during the last quarter. Danske Bank A S acquired a new position in shares of Cleanspark in the 4th quarter valued at $25,000. Quarry LP purchased a new stake in Cleanspark in the 3rd quarter valued at $26,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Cleanspark during the 2nd quarter worth $29,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of Cleanspark during the third quarter worth about $32,000. Hedge funds and other 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.