Cleanspark, Inc. (NASDAQ:CLSK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $23.8846.

A number of research firms recently weighed in on CLSK. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. BTIG Research restated a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods raised their price target on Cleanspark from $16.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 28th. Maxim Group lifted their price objective on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Finally, Chardan Capital lifted their price objective on Cleanspark from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th.

Institutional Trading of Cleanspark

A number of institutional investors and hedge funds have recently bought and sold shares of CLSK. Danske Bank A S acquired a new stake in shares of Cleanspark during the fourth quarter worth about $25,000. Quarry LP acquired a new position in shares of Cleanspark in the third quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in Cleanspark during the 3rd quarter worth approximately $32,000. Strs Ohio purchased a new stake in Cleanspark during the 1st quarter worth approximately $38,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in Cleanspark by 5,081.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock worth $44,000 after buying an additional 2,947 shares in the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Trading Down 4.7%

NASDAQ CLSK opened at $13.50 on Friday. The firm’s 50-day moving average is $15.11 and its two-hundred day moving average is $12.67. Cleanspark has a 12 month low of $8.00 and a 12 month high of $23.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The stock has a market capitalization of $3.46 billion, a P/E ratio of -6.43 and a beta of 3.86.

Cleanspark (NASDAQ:CLSK) last announced 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 company had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. Cleanspark’s revenue was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, sell-side analysts anticipate that Cleanspark will post -1.23 earnings per share for the current year.

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.