Analysts Set Cleanspark, Inc. (NASDAQ:CLSK) PT at $20.44

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $20.4423.

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upped their target price on Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Needham & Company LLC upped their price target on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Maxim Group upped their price target on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Cleanspark in a research report on Wednesday, April 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research report on Tuesday, May 12th.

Institutional Investors Weigh In On Cleanspark

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Cleanspark by 49.2% in the 1st quarter. Bank of America Corp DE now owns 2,576,687 shares of the company’s stock valued at $21,928,000 after buying an additional 849,865 shares during the last quarter. Intrinsic Edge Capital Management LLC grew its position in shares of Cleanspark by 617.3% in the 1st quarter. Intrinsic Edge Capital Management LLC now owns 894,735 shares of the company’s stock valued at $7,614,000 after buying an additional 770,000 shares during the last quarter. Situational Awareness LP grew its position in shares of Cleanspark by 648.4% in the 1st quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock valued at $104,470,000 after buying an additional 10,635,739 shares during the last quarter. Feynman Point Asset Management LLC grew its position in shares of Cleanspark by 20.6% in the 1st quarter. Feynman Point Asset Management LLC now owns 213,300 shares of the company’s stock valued at $1,815,000 after buying an additional 36,500 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Cleanspark by 11.4% in the 1st quarter. California State Teachers Retirement System now owns 300,688 shares of the company’s stock valued at $2,559,000 after buying an additional 30,663 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

Shares of CLSK opened at $15.97 on Monday. Cleanspark has a 12-month low of $8.00 and a 12-month high of $23.61. The business has a 50-day simple moving average of $11.44 and a two-hundred day simple moving average of $11.74. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. The stock has a market cap of $4.10 billion, a PE ratio of -7.60 and a beta of 3.71.

Cleanspark (NASDAQ:CLSK) last issued its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.36 million. During the same period in the previous year, the company earned ($0.49) EPS. Cleanspark’s revenue for the quarter was down 24.9% on a year-over-year basis. Analysts anticipate that Cleanspark will post -1.19 earnings per share for the current fiscal year.

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.