Alight Capital Management LP Takes Position in Cleanspark, Inc. $CLSK

Alight Capital Management LP acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 350,000 shares of the company’s stock, valued at approximately $3,542,000. Alight Capital Management LP owned about 0.14% of Cleanspark as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP purchased a new stake in Cleanspark during the third quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in Cleanspark during the third quarter valued at approximately $32,000. Danske Bank A S purchased a new stake in Cleanspark during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC increased its holdings in Cleanspark by 38.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after buying an additional 745 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after buying an additional 2,947 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Price Performance

Shares of NASDAQ:CLSK opened at $16.78 on Thursday. 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 fifty day moving average price of $14.18 and a 200 day moving average price of $12.22. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of -7.99 and a beta of 3.79.

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

Analyst Ratings Changes

A number of brokerages have commented on CLSK. Cantor Fitzgerald reduced their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and set a $26.00 target price on shares of Cleanspark in a report on Tuesday, May 12th. Maxim Group increased their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Chardan Capital increased their price objective on shares of Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, Weiss Ratings cut shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Profile

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.