Analysts Set Cleanspark, Inc. (NASDAQ:CLSK) Price Target at $20.67

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $20.6731.

A number of analysts have recently commented on CLSK shares. Zacks Research cut Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Chardan Capital boosted their price target on Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Keefe, Bruyette & Woods boosted their price target on Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research report on Tuesday, May 12th. Finally, Needham & Company LLC boosted their price target on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 4th.

Cleanspark Stock Up 0.7%

NASDAQ:CLSK opened at $17.26 on Friday. The firm’s 50-day moving average price is $14.03 and its 200-day moving average price is $12.20. The company has a market capitalization of $4.43 billion, a PE ratio of -8.22 and a beta of 3.79. 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 1-year low of $8.00 and a 1-year high of $23.61.

Cleanspark (NASDAQ:CLSK) last released its 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 business had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm’s quarterly revenue was down 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.49) earnings per share. On average, equities analysts predict that Cleanspark will post -1.19 EPS for the current fiscal year.

Institutional Trading of Cleanspark

Hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its position in shares of Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after purchasing an additional 937 shares in the last quarter. Danske Bank A S bought a new stake in shares of Cleanspark in the 4th quarter worth approximately $25,000. Quarry LP bought a new position in Cleanspark in the 3rd quarter valued at approximately $26,000. Morse Asset Management Inc bought a new position in Cleanspark in the 3rd quarter valued at approximately $32,000. Finally, Strs Ohio bought a new position in Cleanspark in the 1st quarter valued at approximately $38,000. 43.12% of the stock is owned by institutional investors.

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.