Keefe, Bruyette & Woods Has Lowered Expectations for Cleanspark (NASDAQ:CLSK) Stock Price

Cleanspark (NASDAQ:CLSK) had its target price reduced by analysts at Keefe, Bruyette & Woods from $18.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 38.89% from the company’s current price.

A number of other analysts have also weighed in on the company. Macquarie Infrastructure reduced their target price on Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Needham & Company LLC lowered their price objective on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Friday. Maxim Group assumed coverage on shares of Cleanspark in a research note on Thursday, January 8th. They issued a “buy” rating and a $22.00 target price on the stock. JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target for the company in a report on Monday, November 24th. Finally, B. Riley Financial reduced their price objective on Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and a consensus price target of $20.83.

Cleanspark Stock Up 21.9%

NASDAQ CLSK opened at $10.08 on Monday. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. Cleanspark has a 52 week low of $6.45 and a 52 week high of $23.61. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -9.42 and a beta of 3.47. The company has a fifty day moving average of $12.32 and a two-hundred day moving average of $12.99.

Insider Buying and Selling at Cleanspark

In other news, Director Thomas Leigh Wood sold 85,315 shares of the company’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 transaction of $997,332.35. Following the completion of the transaction, the director directly owned 41,421 shares of the company’s stock, valued at $484,211.49. This represents a 67.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.08% of the company’s stock.

Institutional Trading of Cleanspark

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its position in shares of Cleanspark by 38.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after buying an additional 745 shares during the period. PNC Financial Services Group Inc. grew its stake in Cleanspark by 4.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock worth $291,000 after purchasing an additional 781 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Cleanspark by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock valued at $375,000 after purchasing an additional 873 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cleanspark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 12,915 shares of the company’s stock valued at $187,000 after buying an additional 932 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares during the period. Institutional investors and hedge funds 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.