Cleanspark (NASDAQ:CLSK) Trading Up 20% – Still a Buy?

Cleanspark, Inc. (NASDAQ:CLSK) shares were up 20% on Thursday . The company traded as high as $14.56 and last traded at $14.4160. 5,861,146 shares changed hands during trading, a decline of 75% from the average daily volume of 23,562,352 shares. The stock had previously closed at $12.01.

Key Cleanspark News

Here are the key news stories impacting Cleanspark this week:

• Positive Sentiment: Keefe, Bruyette & Woods raised its price target on CleanSpark from $16 to $25 and assigned an “outperform” rating, implying substantial potential appreciation from recent levels. Benzinga analyst target report
• Positive Sentiment: Chardan Capital also projected strong price appreciation, adding to the favorable analyst backdrop supporting CLSK. Chardan Capital forecasts strong price appreciation
• Positive Sentiment: Analyst commentary argues that CleanSpark’s recently announced $6.6 billion, 20-year triple-net lease for 175 megawatts in Sandersville validates demand for AI data centers and could provide a significant recurring-revenue opportunity. Additional Texas capacity could offer further upside if successfully leased. CleanSpark infrastructure lease valuation analysis
• Neutral Sentiment: Recent coverage highlights heightened investor attention and broadly favorable broker opinions, but notes that analyst recommendations should be weighed alongside CleanSpark’s operating results and execution risks. Zacks broker opinion analysis
• Negative Sentiment: Some analysts downgraded CleanSpark from “strong buy” to “buy” because near-term catalysts may be limited. The AI pivot may require substantial capital, creating dilution risk, while grid constraints and the time required to energize facilities could delay revenue generation. CleanSpark also recently reported a larger-than-expected quarterly loss and lower-than-expected revenue, underscoring execution risk. CleanSpark AI pivot and dilution risk analysis

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Chardan Capital raised their price objective on Cleanspark from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods lifted their target price on shares of Cleanspark from $16.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC upped their price target on Cleanspark from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Maxim Group upped their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cleanspark currently has a consensus rating of “Moderate Buy” and an average price target of $23.35.

Cleanspark Trading Up 20.0%

The business’s fifty day simple moving average is $15.36 and its 200 day simple moving average is $12.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -6.86 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.35 million. During the same period in the prior year, the company earned ($0.49) EPS. Cleanspark’s quarterly revenue was down 24.9% on a year-over-year basis. On average, research analysts predict that Cleanspark, Inc. will post -1.19 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC increased its position in Cleanspark by 16.8% in the second quarter. CoreCap Advisors LLC now owns 5,565 shares of the company’s stock worth $81,000 after buying an additional 800 shares during the period. KBC Group NV boosted its holdings in shares of Cleanspark by 10.7% during the first quarter. KBC Group NV now owns 8,574 shares of the company’s stock valued at $73,000 after acquiring an additional 828 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Cleanspark by 4.9% during the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock valued at $297,000 after acquiring an additional 1,248 shares during the period. CreativeOne Wealth LLC grew its position in shares of Cleanspark by 11.0% during the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock worth $245,000 after acquiring an additional 1,680 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Cleanspark by 1.5% during the third quarter. Franklin Resources Inc. now owns 117,823 shares of the company’s stock worth $1,708,000 after acquiring an additional 1,727 shares during the last quarter. 43.12% of the stock is currently owned by 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.