AXQ Capital LP Takes $526,000 Position in Cleanspark, Inc. $CLSK

AXQ Capital LP bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 51,991 shares of the company’s stock, valued at approximately $526,000.

Several other hedge funds also recently bought and sold shares of CLSK. Hantz Financial Services Inc. increased its stake in Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares in the last quarter. Danske Bank A S bought a new position in shares of Cleanspark in the fourth quarter worth about $25,000. Quarry LP bought a new position in shares of Cleanspark in the third quarter worth about $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark during the third quarter worth about $32,000. Finally, Strs Ohio bought a new stake in Cleanspark during the 1st quarter valued at approximately $38,000. Institutional investors own 43.12% of the company’s stock.

Analyst Upgrades and Downgrades

CLSK has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price target on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. B. Riley Financial lowered their target price on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Cantor Fitzgerald dropped their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Maxim Group raised their target price on shares of Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.44.

Cleanspark Stock Up 0.2%

NASDAQ CLSK opened at $17.61 on Thursday. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average of $12.70 and a two-hundred day moving average of $11.86. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of -8.39 and a beta of 3.79. Cleanspark, Inc. has a 52 week low of $8.00 and a 52 week high of $23.61.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company’s revenue was down 24.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.49) EPS. On average, analysts predict that Cleanspark, Inc. will post -1.19 earnings per share for the current year.

About Cleanspark

CleanSpark, Inc (NASDAQ: CLSK) is a leading energy software and services company specializing in advanced microgrid controls and distributed energy resource (DER) management. The firm develops proprietary software platforms designed to optimize power flows across on-grid and off-grid installations, integrating renewable generation, battery storage, and traditional generation assets. CleanSpark’s technology is used by utilities, commercial and industrial enterprises, and remote facilities seeking to enhance energy resilience, reduce operating costs, and achieve sustainability goals.

In addition to its core software offerings, CleanSpark provides end-to-end engineering, procurement and construction (EPC) services.