CleanSpark, Inc. (NASDAQ:CLSK) is one of the most undervalued financial stocks to buy according to Wall Street analysts. On September 26, JPMorgan downgraded CleanSpark stock from “Overweight” to “Neutral.” The firm also lowered its price target from $15 to $14, citing valuation concerns.
JPMorgan stated that CleanSpark builds, owns, and operates data centers dedicated to bitcoin mining. It currently operates 50 EH/s (exahash per second), making it one of the four largest publicly listed miners by this metric. The analysts noted that CleanSpark is worth $3.85 billion in market capitalization and has shown 84.7% revenue growth over the last twelve months. Another strength is that the company has a robust financial position; it has a healthy current ratio of 4.37. Overall, JPMorgan described CleanSpark as a “well capitalized, best-in-class operator with M&A expertise.”
Nonetheless, JPMorgan stated shares appear to be fully pricing in the company’s recent expansion to 50 EH/s. As such, the downgrade was primarily on valuation, rather than any operational concerns. The firm indicated it would be more constructive on a pullback.
CleanSpark, Inc. (NASDAQ:CLSK) is a bitcoin mining company. It develops and operates data centers that use low-cost, sustainable energy sources to mine Bitcoin at scale. The company’s primary facilities are located in Georgia, US.
While we acknowledge the potential of CLSK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 11 Best Buy-the-Dip Stocks to Buy According to Analysts and 10 Best Beaten Down Technology Stocks to Buy According to Analysts.
Disclosure: None. This article is originally published at Insider Monkey.
