Cleanspark (NASDAQ:CLSK) Upgraded to “Strong-Buy” at Northland Capmk

Cleanspark (NASDAQ:CLSK) was upgraded by investment analysts at Northland Capmk to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently weighed in on CLSK. B. Riley decreased their price target on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Northland Securities began coverage on Cleanspark in a research note on Tuesday. They set an “outperform” rating and a $22.50 target price for the company. Chardan Capital reissued a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a research note on Wednesday, January 7th. Needham & Company LLC raised their price objective on shares of Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, Maxim Group initiated coverage on shares of Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $23.06.

Cleanspark Price Performance

Shares of CLSK opened at $12.55 on Tuesday. The business has a 50-day moving average of $12.51 and a 200-day moving average of $12.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 11.31 and a beta of 3.47. Cleanspark has a 1 year low of $6.45 and a 1 year high of $23.61.

Insiders Place Their Bets

In related news, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.02, for a total transaction of $495,660.00. Following the transaction, the director directly owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total value of $997,332.35. Following the completion of the transaction, the director owned 41,421 shares in the company, valued at $484,211.49. The trade was a 67.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in shares of Cleanspark during the 1st quarter worth $68,000. Caxton Associates LLP purchased a new position in Cleanspark in the first quarter valued at about $169,000. United Services Automobile Association bought a new position in shares of Cleanspark during the 1st quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cleanspark by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock worth $4,025,000 after purchasing an additional 86,229 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in shares of Cleanspark by 87.6% in the 1st quarter. Belpointe Asset Management LLC now owns 19,364 shares of the company’s stock worth $130,000 after purchasing an additional 9,042 shares during the period. 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.