Cleanspark (NASDAQ:CLSK) Price Target Cut to $18.00 by Analysts at Keefe, Bruyette & Woods

Cleanspark (NASDAQ:CLSK) had its price objective cut by equities research analysts at Keefe, Bruyette & Woods from $18.50 to $18.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 44.69% from the company’s current price.

Several other analysts also recently commented on CLSK. Chardan Capital restated a “buy” rating and set a $30.00 target price on shares of Cleanspark in a report on Wednesday, January 7th. Sanford C. Bernstein increased their price objective on shares of Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Maxim Group initiated coverage on shares of Cleanspark in a report on Thursday, January 8th. They set a “buy” rating and a $22.00 price objective on the stock. Wall Street Zen cut shares of Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Northland Securities assumed coverage on Cleanspark in a report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 target price for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and an average target price of $22.98.

Cleanspark Trading Down 9.3%

NASDAQ:CLSK opened at $12.44 on Tuesday. Cleanspark has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18. The stock has a market capitalization of $3.18 billion, a PE ratio of 11.21 and a beta of 3.47. The business’s 50-day simple moving average is $12.40 and its 200-day simple moving average is $13.07.

Insider Activity

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 sale, the director owned 41,421 shares in the company, valued at $484,211.49. This represents a 67.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Cleanspark

Institutional investors and hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in Cleanspark in the first quarter valued at approximately $68,000. Caxton Associates LLP bought a new position in shares of Cleanspark during the 1st quarter worth approximately $169,000. United Services Automobile Association acquired a new position in shares of Cleanspark during the 1st quarter worth approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Cleanspark by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after acquiring an additional 86,229 shares during the period. Finally, Strs Ohio bought a new stake in Cleanspark in the 1st quarter valued at $38,000. 43.12% of the stock is owned by institutional investors.

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.