Needham & Company LLC Issues Positive Forecast for Cleanspark (NASDAQ:CLSK) Stock Price

Key Points

• Needham & Company raised its price target on CleanSpark from $18 to $23 and maintained a buy rating, implying about 71% upside from the current share price.
• Other analysts remain mostly bullish on CLSK, with BTIG Research reiterating a buy rating and setting a $26 target. The stock now has a consensus rating of Moderate Buy and an average target price of $21.48.
• Despite the optimistic outlook, CleanSpark’s latest earnings missed expectations, posting $(1.52) EPS on revenue of $136.41 million. Shares were trading up 8.8% at $13.45 as investors also weighed the company’s pivot toward AI/data center hosting.

Cleanspark (NASDAQ:CLSK - Get Free Report) had its price objective raised by stock analysts at Needham & Company LLC from $18.00 to $23.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's target price indicates a potential upside of 71.00% from the company's current price.

CLSK has been the subject of several other research reports. BTIG Research reiterated a "buy" rating and issued a $26.00 price objective on shares of Cleanspark in a research report on Tuesday. Weiss Ratings lowered Cleanspark from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Maxim Group boosted their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Cantor Fitzgerald cut their price target on Cleanspark from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Finally, HC Wainwright restated a "buy" rating on shares of Cleanspark in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Cleanspark has a consensus rating of "Moderate Buy" and an average target price of $21.48.

Cleanspark Trading Up 8.8%

Shares of CLSK stock opened at $13.45 on Wednesday. Cleanspark has a 12-month low of $8.00 and a 12-month high of $23.61. The company has a market capitalization of $3.45 billion, a P/E ratio of -6.40 and a beta of 3.83. The firm has a 50-day moving average price of $15.35 and a 200 day moving average price of $12.39. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.Cleanspark's quarterly revenue was down 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) earnings per share. Research analysts forecast that Cleanspark will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Cleanspark

Hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its holdings in shares of Cleanspark by 37.7% during the 4th quarter. New York State Teachers Retirement System now owns 341,749 shares of the company's stock worth $3,458,000 after buying an additional 93,649 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Cleanspark in the fourth quarter valued at approximately $2,019,000. Benchmark Financial LLC bought a new position in shares of Cleanspark during the fourth quarter worth approximately $1,255,000. Tudor Investment Corp ET AL increased its stake in shares of Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company's stock worth $25,118,000 after purchasing an additional 1,441,939 shares during the period. Finally, Fiduciary Alliance LLC acquired a new stake in Cleanspark during the 4th quarter worth approximately $2,203,000. Institutional investors and hedge funds own 43.12% of the company's stock.

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.

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