Cleanspark, Inc. $CLSK Shares Sold by BIT Capital GmbH

BIT Capital GmbH cut its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 883,654 shares of the company’s stock after selling 85,571 shares during the period. BIT Capital GmbH owned 0.35% of Cleanspark worth $8,943,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CLSK. Integrated Wealth Concepts LLC acquired a new position in shares of Cleanspark during the first quarter worth $68,000. Caxton Associates LLP acquired a new position in shares of Cleanspark in the 1st quarter valued at $169,000. United Services Automobile Association acquired a new position in shares of Cleanspark in the 1st quarter valued at $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Cleanspark by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after acquiring an additional 86,229 shares during the period. Finally, Strs Ohio acquired a new position in shares of Cleanspark in the 1st quarter valued at $38,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Price Performance

NASDAQ:CLSK opened at $15.59 on Friday. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -7.42 and a beta of 3.79. The firm’s fifty day moving average is $12.96 and its two-hundred day moving average is $11.93.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on CLSK shares. Keefe, Bruyette & Woods upped their target price on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Needham & Company LLC upped their target price on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 4th. BTIG Research reissued a “buy” rating and issued a $26.00 target price on shares of Cleanspark in a research report on Tuesday, May 12th. B. Riley Financial cut their target price on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Chardan Capital reissued a “buy” rating and issued a $16.00 target price on shares of Cleanspark in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and an average price target of $20.44.

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.