Citizens initiates coverage on Cleanspark with outperform rating

0 min read Updated on 24 Jun 2026, 07:36 PM

Reviewed by

Radhika SScanX News Team

AI Summary

Citizens analyst Greg P. Miller initiates coverage on Cleanspark with a Market Outperform rating and a price target of $27, indicating a positive outlook.

*this image is generated using AI for illustrative purposes only.

Citizens analyst Greg P. Miller has initiated coverage on Cleanspark with a Market Outperform rating and announced a price target of $27. The rating reflects a positive outlook on the company's performance potential.

Analyst Details

The coverage initiation was led by Greg P. Miller of Citizens. The Market Outperform rating suggests the stock is expected to perform better than the broader market.

Price Target

Citizens set a price target of $27 for Cleanspark shares. This target provides a benchmark for investors regarding the stock's future valuation.

What specific factors drove Citizens to set the $27 price target for Cleanspark?

How might Cleanspark's performance compare to its competitors in the sector?

What are the potential risks that could prevent Cleanspark from reaching the $27 target?

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CleanSpark rises as Chardan raises price target to $19

1 min read Updated on 09 Jun 2026, 02:59 AM

Reviewed by

Radhika SScanX News Team

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AI Summary

CleanSpark Inc shares rose after Chardan Capital analyst James McIlree reiterated a Buy rating and increased the price target to $19. The stock is trading above major moving averages, with resistance at $19 and support at $16. CleanSpark closed up 5.97% at $16.52 on Monday.

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CleanSpark Inc shares surged on Monday after Chardan Capital analyst James McIlree reiterated a Buy rating and raised the price target to $19. The stock is trading above all major moving averages, with the $19 level identified as a key psychological checkpoint and resistance zone. The move follows a recent decline linked to Bitcoin's slide toward the $60,000 level.

Technical Analysis and Key Levels

The technical setup remains constructive for CleanSpark. The stock is roughly 5.5% above its 20-day SMA and 30% to 41% above the 50-, 100- and 200-day SMAs. A golden cross formed in June, with the 50-day crossing above the 200-day, reinforcing that the longer-term trend has flipped back in favor of buyers after a death cross in February.

Momentum indicators suggest the rally is not overbought. The Relative Strength Index (RSI) sits at 51.59. Key resistance is aligned with the new price target at $19, while $16 serves as the support level where dip buyers are expected to step in. A break below $16 would indicate the move was driven by market tape rather than the underlying thesis.

Recent Performance and Context

CleanSpark fell on Friday as Bitcoin declined, dragging high-beta miners lower amid broader risk-off sentiment in crypto-linked equities. The drop occurred despite institutional accumulation and efforts to pivot into AI and high-performance computing. The combination of a 15% weekly Bitcoin decline, macro tension, and recent earnings misses outweighed those positives.

CleanSpark shares closed up 5.97% at $16.52 on Monday.