Fintel reports that on September 25, 2024, Macquarie initiated coverage of CleanSpark (NasdaqCM:CLSK) with a Outperform recommendation.
Analyst Price Forecast Suggests 179.72% Upside
As of September 25, 2024, the average one-year price target for CleanSpark is $26.11/share. The forecasts range from a low of $22.22 to a high of $31.50. The average price target represents an increase of 179.72% from its latest reported closing price of $9.34 / share.
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The projected annual revenue for CleanSpark is 290MM, a decrease of 15.38%. The projected annual non-GAAP EPS is 0.14.
What is the Fund Sentiment?
There are 461 funds or institutions reporting positions in CleanSpark. This is an increase of 54 owner(s) or 13.27% in the last quarter. Average portfolio weight of all funds dedicated to CLSK is 0.24%, an increase of 31.57%. Total shares owned by institutions increased in the last three months by 2.70% to 114,065K shares. 
The put/call ratio of CLSK is 0.24, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,849K shares representing 2.71% ownership of the company. In its prior filing, the firm reported owning 5,939K shares , representing an increase of 13.28%. The firm decreased its portfolio allocation in CLSK by 15.67% over the last quarter.
Geode Capital Management holds 5,614K shares representing 2.22% ownership of the company. In its prior filing, the firm reported owning 4,775K shares , representing an increase of 14.95%. The firm decreased its portfolio allocation in CLSK by 16.09% over the last quarter.
IWM - iShares Russell 2000 ETF holds 4,518K shares representing 1.78% ownership of the company. In its prior filing, the firm reported owning 4,728K shares , representing a decrease of 4.65%. The firm decreased its portfolio allocation in CLSK by 21.60% over the last quarter.
Group One Trading holds 4,014K shares representing 1.59% ownership of the company. In its prior filing, the firm reported owning 4,579K shares , representing a decrease of 14.09%. The firm decreased its portfolio allocation in CLSK by 33.48% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 3,457K shares representing 1.37% ownership of the company. In its prior filing, the firm reported owning 2,965K shares , representing an increase of 14.24%. The firm decreased its portfolio allocation in CLSK by 8.91% over the last quarter.
Cleanspark Background Information
(This description is provided by the company.)
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services. Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States .
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