Tobam Has $342,000 Position in Cleanspark, Inc. $CLSK

Tobam cut its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 49.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,783 shares of the company’s stock after selling 33,268 shares during the quarter. Tobam’s holdings in Cleanspark were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CLSK shares. Cantor Fitzgerald cut their price objective on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Weiss Ratings cut Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Maxim Group increased their target price on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Zacks Research lowered Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Finally, BTIG Research restated a “buy” rating and set a $26.00 price target on shares of Cleanspark in a report on Tuesday, May 12th. One investment 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, Cleanspark currently has an average rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Price Performance

CLSK stock opened at $17.24 on Friday. The company has a fifty day moving average price of $14.50 and a 200-day moving average price of $12.27. The company has a market capitalization of $4.42 billion, a P/E ratio of -8.21 and a beta of 3.79. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week 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.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings data 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 business had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.49) EPS. As a group, equities analysts expect that Cleanspark, Inc. will post -1.19 EPS for the current year.

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.