Analysts Set Cleanspark, Inc. (NASDAQ:CLSK) Target Price at $20.60

Shares of Cleanspark, Inc. (NASDAQ:CLSK) have received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $20.5962.

CLSK has been the subject of several recent research reports. Maxim Group initiated coverage on shares of Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 target price for the company. Northland Securities began coverage on shares of Cleanspark in a research note on Tuesday, January 13th. They set an “outperform” rating and a $22.50 price target on the stock. Needham & Company LLC cut 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, February 6th. B. Riley Financial reduced their price objective on Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Finally, Weiss Ratings cut Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th.

Cleanspark Price Performance

NASDAQ CLSK opened at $8.79 on Friday. The company has a 50-day moving average price of $10.11 and a 200-day moving average price of $12.82. Cleanspark has a 52 week low of $6.45 and a 52 week high of $23.61. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $2.25 billion, a P/E ratio of -8.21 and a beta of 3.53.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its stake in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after acquiring an additional 937 shares during the period. Quarry LP bought a new stake in Cleanspark during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in Cleanspark during the third quarter valued at approximately $32,000. Morse Asset Management Inc purchased a new position in Cleanspark during the third quarter valued at approximately $32,000. Finally, Danske Bank A S bought a new position in shares of Cleanspark in the fourth quarter worth approximately $25,000. 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.