B. Riley Securities Has Lowered Expectations for Cleanspark (NASDAQ:CLSK) Stock Price

Key Points

• B. Riley Securities cut its Cleanspark price target from $22 to $19 but kept a "buy" rating, implying roughly an 89% upside from the stock's current level.
• Analyst action is mixed, yet the consensus remains a Moderate Buy with an average target of $20.70 after several firms lowered their forecasts.
• Cleanspark trades near $10 (one‑year high $23.61) and has seen notable insider selling by directors, while institutional investors hold about 43% of the shares.

Cleanspark (NASDAQ:CLSK - Get Free Report) had its target price decreased by stock analysts at B. Riley Securities from $22.00 to $19.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Securities' price objective would suggest a potential upside of 89.43% from the stock's current price.

Other equities research analysts have also issued reports about the company. Chardan Capital lowered their price target on Cleanspark from $30.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, February 6th. JPMorgan Chase & Co. raised Cleanspark from a "neutral" rating to an "overweight" rating and set a $14.00 price target for the company in a research report on Monday, November 24th. B. Riley Financial dropped their target price on shares of Cleanspark from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, November 26th. Northland Securities assumed coverage on Cleanspark in a research note on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price target for the company. Finally, Needham & Company LLC lowered their target price on shares of Cleanspark from $25.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Cleanspark has a consensus rating of "Moderate Buy" and an average target price of $20.70.

Cleanspark Trading Down 1.6%

NASDAQ CLSK opened at $10.03 on Wednesday. The business has a 50 day simple moving average of $12.17 and a 200 day simple moving average of $12.96. The stock has a market capitalization of $2.57 billion, a P/E ratio of -9.37 and a beta of 3.47. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark has a one year low of $6.45 and a one year high of $23.61.

Insider Buying and Selling

In other news, Director Amanda Cavaleri sold 33,000 shares of Cleanspark stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $15.02, for a total value of $495,660.00. Following the completion of the transaction, the director owned 107,289 shares of the company's stock, valued at $1,611,480.78. The trade was a 23.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Leigh Wood sold 85,315 shares of the firm'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 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 SEC filing for this sale provides additional information. Company insiders own 2.08% of the company's stock.

Institutional Investors Weigh In On Cleanspark

Hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in shares of Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company's stock worth $25,000 after purchasing an additional 937 shares in the last quarter. Quarry LP acquired a new stake in shares of Cleanspark in the third quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in shares of Cleanspark in the 3rd quarter valued at about $32,000. Morse Asset Management Inc acquired a new stake in shares of Cleanspark during the 3rd quarter worth approximately $32,000. Finally, Danske Bank A S purchased a new position in Cleanspark in the fourth quarter valued at $25,000. 43.12% of the stock is currently owned by hedge funds and other 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.

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