Zacks Investment Research Runs Down CleanSpark To Strong Sell

• CleanSpark (CLSK) was relegated by Zacks Investment Research from “hold” rank to a “strong sell” rank in a report published on Thursday.
• As per Zacks, CleanSpark Inc. is a microgrid organization, It offers energy software and control technology.
• The organization provides intelligent energy controls and monitoring, microgrid model and engineering and other services.

Selling Pressure Increased On CleanSpark

CleanSpark is a microgrid organization providing intelligent energy controls and monitoring, microgrid engineering and design, microgrid counseling services and turn-key microgrid implementation facilities.

It serves the deployment, municipal and agriculture, military, industrial, and commercial sectors. CleanSpark is located in Salt Lake City, Utah.

Many other brokerages also published reports on CleanSpark. HC Wainwright reissued a “buy” rating and issued a $16 value objective on stocks of CleanSpark in a Research Note.

CLSK stock traded up $0.10 during trading on Thursday, marking $5.85. The organization’s shares had a sales volume of 2,140,040 stocks, in contrast to its average volume of 2,284,728.

CleanSpark has a monthly low of $4.53 and an annual high of $23.6. Organization’s simple moving average is $9.37 and its 200 day simple moving average is $11.12. The share has a market cap of $241.55 Million.

CleanSpark previously made an announcement of its quarterly earnings result on Tuesday. The organization reported $0.48 EPS for the quarter, taking down the analysts’ consensus forecasts of $0.3 to $0.18.

CleanSpark had a negative net margin of 6.34% and an affirmative return on equity of 3.21%.

Mammoth investors have recently adjusted their holdings of the organization. Nisa Investment Advisors LLC escalated its holdings in CleanSpark by 166.7% during its initial quarter.

CitiGroup Inc. elevated their earnings in CleanSpark 144.8% during the 3rd quarter.

UBS Group AG elevated their holdings in CleanSpark by 13.4% during 3rd quarter.

Also Read: The Department Of Justice Has Filed Its First Criminal Complaint Against A US Citizen Accused Of Evading Sanctions By Using Cryptocurrency

About CleanSpark

CleanSpark Inc. offers Bitcoin mining and power tech solutions all over the globe. It operates in a couple of segments, Energy and Virtual Currency Mining.

Virtual Currency Mining elements engage in Bitcoin mining. Energy element offers energy storage solutions, solar, open automated demand response, custom hardware, design and software and engineering for microgrids and dispersed energy systems to residential, military and commercial consumers.

Anurag S

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.