New York State Teachers Retirement System Trims Stock Position in Cleanspark, Inc. $CLSK

New York State Teachers Retirement System lessened its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,986 shares of the company’s stock after selling 57,763 shares during the period. New York State Teachers Retirement System owned 0.11% of Cleanspark worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CLSK. Dimensional Fund Advisors LP increased its holdings in shares of Cleanspark by 80.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock valued at $78,731,000 after acquiring an additional 3,467,841 shares during the period. Marex Group plc boosted its stake in Cleanspark by 23,812.2% during the 4th 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 during the period. Invesco Ltd. grew its position 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 last quarter. Tidal Investments LLC grew its position 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 last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Cleanspark in the third quarter valued at $56,056,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Trading Down 0.3%

NASDAQ CLSK opened at $12.85 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 stock has a market capitalization of $3.30 billion, a P/E ratio of -6.12 and a beta of 3.83. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week high of $23.61. The firm has a 50-day moving average price of $15.35 and a 200 day moving average price of $12.37.

Cleanspark (NASDAQ:CLSK) last released its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The business had revenue of $136.41 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.49) EPS. Equities research analysts expect that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of research reports. Keefe, Bruyette & Woods upped their target price on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Maxim Group boosted their price target on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Needham & Company LLC upped their price objective on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Cantor Fitzgerald decreased their price objective on Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Citigroup initiated coverage on Cleanspark in a report on Wednesday, June 24th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.