Cleanspark, Inc. (NASDAQ:CLSK) Receives $23.35 Consensus Price Target from Brokerages

by · The Markets Daily

Cleanspark, Inc. (NASDAQ:CLSK – Get Free Report) has received an average rating of “Moderate Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $23.8846.

Several research firms have commented on CLSK. Citigroup began coverage on Cleanspark in a research note on Wednesday, June 24th. They set an “outperform” rating for the company. Keefe, Bruyette & Woods lifted their price target on Cleanspark from $16.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 28th. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Maxim Group increased 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, Needham & Company LLC raised their price objective on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, July 15th.

View Our Latest Report on Cleanspark

Cleanspark Stock Up 6.5%

Shares of NASDAQ CLSK opened at $14.65 on Friday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -6.98 and a beta of 3.86. The company’s 50-day simple moving average is $15.26 and its 200-day simple moving average is $12.66. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. Cleanspark has a 52-week low of $8.00 and a 52-week high of $23.61.

Cleanspark (NASDAQ:CLSK – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 7.07% and a negative net margin of 67.66%.The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.49) EPS. Equities analysts predict that Cleanspark will post -1.17 EPS for the current fiscal year.

Institutional Trading of Cleanspark

Several large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in Cleanspark in the 3rd quarter worth approximately $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark in the third quarter valued at approximately $32,000. Danske Bank A S acquired a new stake in shares of Cleanspark in the fourth quarter valued at approximately $25,000. CIBC Private Wealth Group LLC increased its holdings in shares of Cleanspark by 5,081.0% in the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after purchasing an additional 2,947 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Cleanspark by 2,019.6% during the third quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock worth $57,000 after buying an additional 3,716 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

About Cleanspark

(Get Free Report)

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.

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