Cleanspark Inc (CLSK) Receives a Buy from H.C. Wainwright

By Ryan Adsit

In a report released today, Amit Dayal from H.C. Wainwright initiated coverage with a Buy rating on Cleanspark Inc (CLSKResearch Report) and a price target of $4. The company’s shares closed last Monday at $0.97, close to its 52-week low of $0.77.

Dayal wrote:

“We are estimating CleanSpark’s revenues from project development, project sale, and ESA contracts, to be approximately $9.5M in FY2020 and expect these to grow to over $90.0M in FY2025. We are projecting switchgear business to generate $5.0M in FY2020 and grow to nearly $13.0M in FY2025. We expect revenues from software contracts to be approximately $332K from roughly 40 controller boxes in FY2020, and expect these to grow to over $40.0M from an installed base of over 950 boxes in FY2025.”

According to TipRanks.com, Dayal is a 3-star analyst with an average return of 1.4% and a 42.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cleanspark Inc with a $4 average price target.

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The company has a one-year high of $15.01 and a one-year low of $0.77. Currently, Cleanspark Inc has an average volume of 83.64K.

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Cleanspark, Inc. offers advanced energy software and control technology that enables a plug-and-play enterprise solution to modern energy challenges. Its services consist of intelligent energy monitoring and controls, Microgrid design and engineering, Microgrid consulting services, and turn-key Microgrid implementation services.