Louisiana State Employees Retirement System Makes New Investment in Cleanspark, Inc. $CLSK

Louisiana State Employees Retirement System purchased a new position in Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 113,400 shares of the company’s stock, valued at approximately $965,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Cleanspark during the 1st quarter valued at $68,000. Caxton Associates LLP acquired a new stake in shares of Cleanspark in the first quarter valued at $169,000. United Services Automobile Association bought a new position in Cleanspark during the first quarter valued at about $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cleanspark by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock worth $4,025,000 after acquiring an additional 86,229 shares during the period. Finally, Strs Ohio acquired a new position in Cleanspark during the first quarter worth about $38,000. Institutional investors own 43.12% of the company’s stock.

Analyst Ratings Changes

CLSK has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Citigroup started coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued an “outperform” rating on the stock. Chardan Capital boosted their target price on shares of Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, June 8th. 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. Finally, Maxim Group lifted their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.12.

Cleanspark Price Performance

NASDAQ CLSK opened at $12.62 on Monday. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. 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 $3.24 billion, a PE ratio of -6.01 and a beta of 3.83. The stock’s 50-day moving average price is $15.28 and its two-hundred day moving average price is $12.34.

Cleanspark (NASDAQ:CLSK) last announced its 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 positive return on equity of 7.07% and a negative net margin of 67.66%.The firm had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.35 million. During the same quarter in the previous year, the business earned ($0.49) earnings per share. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, analysts predict 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.