Needham & Company LLC Increases Cleanspark (NASDAQ:CLSK) Price Target to $23.00

Cleanspark (NASDAQ:CLSK) had its price target raised by investment analysts at Needham & Company LLC from $18.00 to $23.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 71.00% from the company’s previous close.

CLSK has been the subject of several other reports. Chardan Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Cleanspark in a research note on Wednesday, July 8th. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Citigroup started coverage on Cleanspark in a research report on Wednesday, June 24th. They set an “outperform” rating for the company. Finally, Maxim Group increased their target price on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and an average target price of $21.48.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $13.45 on Wednesday. Cleanspark has a twelve month low of $8.00 and a twelve month high of $23.61. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. The company has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $12.39. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -6.40 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The business had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. During the same quarter in the previous year, the company earned ($0.49) EPS. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. Analysts forecast that Cleanspark will post -1.19 EPS for the current year.

Institutional Trading of Cleanspark

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in Cleanspark during the first quarter worth about $68,000. Caxton Associates LLP acquired a new stake in shares of Cleanspark in the 1st quarter valued at approximately $169,000. United Services Automobile Association acquired a new stake in shares of Cleanspark in the 1st quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Cleanspark by 16.8% during 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 purchasing an additional 86,229 shares during the last quarter. Finally, Strs Ohio acquired a new position in Cleanspark during the 1st quarter worth approximately $38,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Cleanspark

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: CleanSpark secured a massive 20-year infrastructure lease that could bring in billions of dollars in predictable revenue and improve how investors value the business. CleanSpark Secures Twenty-Year Lease with High-Investment Grade Global Technology Company for Data Center in Sandersville, Georgia
• Positive Sentiment: Analyst sentiment got a boost after BTIG Research reiterated a Buy rating and raised its price target to $26, reinforcing the bullish reaction to the new lease announcement. Cleanspark (NASDAQ:CLSK) Receives “Buy” Rating from BTIG Research
• Neutral Sentiment: Trading activity also picked up as investors reacted to the company’s broader pivot into high-performance computing and AI hosting, which could reshape its long-term growth profile. CleanSpark (CLSK) Scores Billion-Dollar Deals in Georgia, Texas; Shares Climb
• Neutral Sentiment: The company also reported June Bitcoin production of 614 BTC, which supports its mining operations but has been overshadowed by the new AI/data center story. CleanSpark (CLSK) Reports June Bitcoin Output, Is The 42% Undervalued View Still Credible?
• Negative Sentiment: Some investors remain cautious because the new lease will require substantial upfront capital spending before revenue begins, and the company still carries execution and financing risk as it transitions its business model. CleanSpark stock overview

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.