SG Americas Securities LLC Sells 624,969 Shares of Cleanspark, Inc. $CLSK

SG Americas Securities LLC trimmed its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 55.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 503,288 shares of the company’s stock after selling 624,969 shares during the period. SG Americas Securities LLC owned approximately 0.20% of Cleanspark worth $4,283,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CLSK. PNC Financial Services Group Inc. increased its position in Cleanspark by 4.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock valued at $291,000 after buying an additional 781 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Cleanspark by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock worth $375,000 after acquiring an additional 873 shares in the last quarter. CI Investments Inc. boosted its holdings in Cleanspark by 6.9% in the third quarter. CI Investments Inc. now owns 15,437 shares of the company’s stock worth $224,000 after acquiring an additional 997 shares in the last quarter. FNY Investment Advisers LLC grew its stake in shares of Cleanspark by 14.6% in the third quarter. FNY Investment Advisers LLC now owns 9,595 shares of the company’s stock worth $139,000 after acquiring an additional 1,219 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in shares of Cleanspark by 4.9% in the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock worth $297,000 after acquiring an additional 1,248 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

Cleanspark Trading Down 5.9%

Shares of NASDAQ:CLSK opened at $15.37 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a market cap of $3.94 billion, a P/E ratio of -7.32 and a beta of 3.79. The stock’s fifty day moving average price is $15.16 and its 200-day moving average price is $12.35.

Cleanspark (NASDAQ:CLSK) last released 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 positive return on equity of 7.07% and a negative net margin of 67.66%.The business had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. During the same quarter in the previous year, the business posted ($0.49) earnings per share. Cleanspark’s quarterly revenue was down 24.9% compared to the same quarter last year. Sell-side analysts expect that Cleanspark, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CLSK. Keefe, Bruyette & Woods lifted their price target on Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Citigroup assumed coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued an “outperform” rating on the stock. Citizens Jmp started coverage on shares of Cleanspark in a report on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 price target on the stock. Finally, Cantor Fitzgerald cut their price target on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.12.

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.