Cleanspark (NASDAQ:CLSK) Receives Buy Rating from Chardan Capital

Key Points

• Chardan Capital reiterated a Buy rating on CleanSpark and set a $19 price target, implying about 41% upside from the prior close.
• Other analysts remain broadly bullish: the stock has a Moderate Buy consensus rating and an average price target of $21.48, though some firms have recently adjusted targets and ratings in both directions.
• CleanSpark shares rose 8.8% as investors reacted to its recent move toward AI/data center hosting and a long-term infrastructure lease, even though the company’s latest quarterly results missed earnings and revenue estimates.

Cleanspark (NASDAQ:CLSK - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Chardan Capital in a report released on Wednesday,Benzinga reports. They presently have a $19.00 target price on the stock. Chardan Capital's price target points to a potential upside of 41.26% from the stock's previous close.

A number of other analysts also recently issued reports on CLSK. Keefe, Bruyette & Woods raised their price target on shares of Cleanspark from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Wednesday, May 13th. Zacks Research raised shares of Cleanspark from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Cantor Fitzgerald lowered their price objective on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Needham & Company LLC raised their target price on shares of Cleanspark from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Weiss Ratings downgraded shares of Cleanspark from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Cleanspark currently has an average rating of "Moderate Buy" and a consensus price target of $21.48.

Cleanspark Trading Up 8.8%

Shares of NASDAQ:CLSK opened at $13.45 on Wednesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. Cleanspark has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a market cap of $3.45 billion, a P/E ratio of -6.40 and a beta of 3.83. The stock's fifty day moving average price is $15.35 and its 200-day moving average price is $12.39.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $145.35 million. During the same quarter in the previous year, the business posted ($0.49) earnings per share. Cleanspark's quarterly revenue was down 24.9% compared to the same quarter last year. Sell-side analysts expect that Cleanspark will post -1.19 earnings per share for the current year.

Institutional Trading of Cleanspark

Large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in Cleanspark during the first quarter valued at approximately $68,000. Caxton Associates LLP purchased a new position in shares of Cleanspark during the 1st quarter worth $169,000. United Services Automobile Association purchased a new position in shares of Cleanspark during the 1st quarter worth $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 acquiring an additional 86,229 shares during the period. Finally, Strs Ohio bought a new stake in shares of Cleanspark during the 1st quarter valued at $38,000. 43.12% of the stock is currently owned by institutional investors.

Key Cleanspark News

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.