Caitong International Asset Management Co. Ltd Acquires Shares of 49,815 Cleanspark, Inc. $CLSK

Caitong International Asset Management Co. Ltd bought a new position in Cleanspark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 49,815 shares of the company’s stock, valued at approximately $504,000.

A number of other institutional investors have also modified their holdings of CLSK. Vanguard Group Inc. raised its stake in shares of Cleanspark by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock valued at $377,752,000 after acquiring an additional 769,148 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cleanspark by 80.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock worth $78,731,000 after purchasing an additional 3,467,841 shares in the last quarter. Marex Group plc grew its stake in Cleanspark by 23,812.2% in the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock worth $54,654,000 after purchasing an additional 5,377,976 shares in the last quarter. Invesco Ltd. increased its holdings in Cleanspark by 22.1% during the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock worth $64,997,000 after purchasing an additional 810,203 shares during the period. Finally, Tidal Investments LLC increased its holdings in Cleanspark by 13.3% during the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock worth $63,313,000 after purchasing an additional 514,062 shares during the period. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $17.24 on Friday. 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 market cap of $4.42 billion, a P/E ratio of -8.21 and a beta of 3.79. The firm’s 50 day moving average price is $14.50 and its 200-day moving average price is $12.27. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week high of $23.61.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data 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 company had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.35 million. During the same period in the previous year, the business earned ($0.49) earnings per share. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. On average, sell-side analysts predict that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

Analysts Set New Price Targets

CLSK has been the subject of several research reports. Cantor Fitzgerald lowered their target price on Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. BTIG Research reissued a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research report on Tuesday, May 12th. Maxim Group lifted their price objective on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods lifted their price objective on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One equities research 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 company’s stock. According to data from MarketBeat.com, Cleanspark presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Cleanspark Company 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.