Cleanspark (NASDAQ:CLSK) Stock Price Up 8.7% - What's Next?

Key Points

• Shares of Cleanspark rose 8.7% to about $12.35 on Thursday, trading as high as $12.42 on roughly 4.28 million shares—an ~82% decline versus its average daily volume of ~24 million.
• Analysts hold a consensus "Moderate Buy" with an average price target of $20.37, though individual ratings vary from Strong Buy/Buy/Outperform to a lone Sell (Weiss Ratings).
• Key fundamentals: market cap about $3.18B, negative P/E (-11.60), beta 3.53, debt-to-equity 1.29, and very strong liquidity with current and quick ratios of 10.54.

Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report)'s share price rose 8.7% during trading on Thursday . The company traded as high as $12.42 and last traded at $12.3540. Approximately 4,277,268 shares traded hands during trading, a decline of 82% from the average daily volume of 23,994,877 shares. The stock had previously closed at $11.37.

Wall Street Analyst Weigh In

CLSK has been the subject of several recent research reports. Chardan Capital restated a "buy" rating and issued a $16.00 price target on shares of Cleanspark in a research report on Wednesday, April 8th. Cantor Fitzgerald decreased their price objective on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Maxim Group began coverage on shares of Cleanspark in a research report on Thursday, January 8th. They set a "buy" rating and a $22.00 price objective for the company. 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. Finally, Weiss Ratings lowered Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.37.

Cleanspark Price Performance

The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -11.60 and a beta of 3.53. The business's fifty day simple moving average is $10.20 and its 200 day simple moving average is $12.29.

Institutional Investors Weigh In On Cleanspark

Large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. grew its holdings in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company's stock worth $25,000 after purchasing an additional 937 shares during the period. Quarry LP acquired a new position in shares of Cleanspark during the third quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Cleanspark during the third quarter valued at about $32,000. Morse Asset Management Inc acquired a new position in shares of Cleanspark during the third quarter valued at about $32,000. Finally, Danske Bank A S acquired a new position in shares of Cleanspark during the fourth quarter valued at about $25,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

About Cleanspark

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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