Cleanspark (NASDAQ:CLSK) Price Target Raised to $19.00 at Chardan Capital

Cleanspark (NASDAQ:CLSK) had its target price boosted by investment analysts at Chardan Capital from $16.00 to $19.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s target price points to a potential upside of 21.87% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. B. Riley Financial dropped their price objective on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Keefe, Bruyette & Woods increased their target price on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Stock Performance

Shares of CLSK stock opened at $15.59 on Monday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The company’s fifty day moving average price is $12.96 and its two-hundred day moving average price is $11.94. The firm has a market capitalization of $4.00 billion, a P/E ratio of -7.42 and a beta of 3.79. Cleanspark has a 12 month low of $8.00 and a 12 month high of $23.61.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. X Square Capital LLC bought a new stake in Cleanspark during the 3rd quarter valued at $2,900,000. New York State Teachers Retirement System boosted its position in Cleanspark by 37.7% during the 4th quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock worth $3,458,000 after acquiring an additional 93,649 shares during the period. State of New Jersey Common Pension Fund D bought a new position in shares of Cleanspark in the fourth quarter worth $2,019,000. Benchmark Financial LLC acquired a new position in shares of Cleanspark during the fourth quarter valued at $1,255,000. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after purchasing an additional 1,441,939 shares during the period. 43.12% of the stock is currently 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.