Cleanspark (NASDAQ:CLSK) Stock Price Down 6.9% - Should You Sell?

Key Points

• Cleanspark shares fell 6.9% to $8.66 on Friday (low $8.61) with ~4.85 million shares traded, about 81% below the stock's average daily volume; the stock had closed at $9.30 previously.
• Analysts still show a Moderate Buy consensus with a $20.60 average price target despite recent downward revisions from some firms (e.g., Chardan to $16, KBW to $14); ratings breakdown: 1 Strong Buy, 12 Buy, 1 Hold, 1 Sell.
• Institutional investors have been increasing exposure—Marex, Dimensional, Voloridge and Renaissance added or initiated large stakes—while Cleanspark has a $2.19B market cap, negative P/E (-8), 50/200-day moving averages of $10.57/$12.86 and very high reported liquidity ratios.

Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report)'s share price dropped 6.9% during trading on Friday . The company traded as low as $8.61 and last traded at $8.6550. Approximately 4,852,595 shares traded hands during trading, a decline of 81% from the average daily volume of 25,641,389 shares. The stock had previously closed at $9.30.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Chardan Capital decreased their price target on shares of Cleanspark from $30.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Keefe, Bruyette & Woods decreased their price objective on shares of Cleanspark from $18.00 to $14.00 and set an "outperform" rating for the company in a research report on Monday, February 9th. Zacks Research raised Cleanspark from a "strong sell" rating to a "hold" rating in a report on Friday, February 20th. Northland Securities initiated coverage on Cleanspark in a report on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price target for the company. Finally, Needham & Company LLC lowered their price objective on Cleanspark from $25.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cleanspark presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.60.

Cleanspark Stock Down 8.0%

The firm's 50-day moving average price is $10.57 and its two-hundred day moving average price is $12.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. The firm has a market cap of $2.19 billion, a PE ratio of -8.00 and a beta of 3.51.

Hedge Funds Weigh In On Cleanspark

Several large investors have recently bought and sold shares of the stock. Marex Group plc grew its holdings in shares of Cleanspark by 23,812.2% during the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company's stock worth $54,654,000 after purchasing an additional 5,377,976 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Cleanspark in the 3rd quarter valued at about $56,056,000. Dimensional Fund Advisors LP boosted its position in shares of Cleanspark by 80.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company's stock valued at $78,731,000 after purchasing an additional 3,467,841 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Cleanspark in the 4th quarter valued at about $26,125,000. Finally, Situational Awareness LP purchased a new position in Cleanspark during the 4th quarter worth approximately $16,601,000. Institutional investors and hedge funds own 43.12% of the company's stock.

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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