Cleanspark (NASDAQ:CLSK) Price Target Cut to $14.00 by Analysts at Cantor Fitzgerald

Cleanspark (NASDAQ:CLSK) had its price target lowered by equities research analysts at Cantor Fitzgerald from $17.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 39.11% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Northland Securities started coverage on Cleanspark in a research report on Tuesday, January 13th. They issued an “outperform” rating and a $22.50 price objective on the stock. Chardan Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of Cleanspark in a research report on Wednesday. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Keefe, Bruyette & Woods lowered their price objective on Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Finally, Needham & Company LLC lowered 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, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.37.

Cleanspark Price Performance

Shares of Cleanspark stock traded up $0.18 on Thursday, reaching $10.06. The stock had a trading volume of 6,298,469 shares, compared to its average volume of 24,888,934. Cleanspark has a 1 year low of $6.94 and a 1 year high of $23.61. The company has a market cap of $2.57 billion, a P/E ratio of -9.31 and a beta of 3.53. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $9.79 and its two-hundred day moving average is $12.74.

Institutional Investors Weigh In On Cleanspark

A number of large investors have recently added to or reduced their stakes in CLSK. Hantz Financial Services Inc. raised its position in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares in the last quarter. Danske Bank A S purchased a new position in shares of Cleanspark during the fourth quarter worth approximately $25,000. Quarry LP purchased a new position in shares of Cleanspark during the third quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of Cleanspark during the third quarter worth approximately $32,000. Finally, Morse Asset Management Inc purchased a new position in shares of Cleanspark during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

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.