Cleanspark (NASDAQ:CLSK) Now Covered by Analysts at Northland Securities

Research analysts at Northland Securities started coverage on shares of Cleanspark (NASDAQ:CLSK) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $22.50 price target on the stock. Northland Securities’ price objective would indicate a potential upside of 82.17% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of Cleanspark in a research report on Wednesday, January 7th. Wall Street Zen lowered shares of Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Macquarie reduced their price target on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. BTIG Research raised their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Cleanspark in a research report on Wednesday, November 26th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and a consensus price target of $23.06.

Cleanspark Trading Up 3.3%

Shares of CLSK stock traded up $0.39 on Tuesday, hitting $12.35. The stock had a trading volume of 11,586,790 shares, compared to its average volume of 23,187,373. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.30. Cleanspark has a twelve month low of $6.45 and a twelve month high of $23.61. The company has a fifty day moving average price of $12.59 and a two-hundred day moving average price of $12.98. The firm has a market cap of $3.16 billion, a P/E ratio of 11.06 and a beta of 3.47.

Insiders Place Their Bets

In other news, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.02, for a total value of $495,660.00. Following the completion of the transaction, the director owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This trade represents a 23.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the completion of the sale, the director directly owned 41,421 shares in the company, valued at approximately $484,211.49. The trade was a 67.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.65% of the stock is currently owned by insiders.

Institutional Trading of Cleanspark

Institutional investors and hedge funds have recently bought and sold shares of the business. Voloridge Investment Management LLC acquired a new stake in shares of Cleanspark in the third quarter valued at approximately $56,056,000. Dimensional Fund Advisors LP lifted its holdings in Cleanspark by 57.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after purchasing an additional 1,564,761 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock worth $25,118,000 after purchasing an additional 1,441,939 shares during the period. Azora Capital LP bought a new position in Cleanspark during the third quarter worth $15,300,000. Finally, SG Americas Securities LLC increased its holdings in shares of Cleanspark by 739.7% in the fourth quarter. SG Americas Securities LLC now owns 1,128,257 shares of the company’s stock valued at $11,418,000 after purchasing an additional 993,900 shares during the last quarter. 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.