Diversify Wealth Management LLC Makes New Investment in Cleanspark, Inc. $CLSK

Diversify Wealth Management LLC bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,362 shares of the company’s stock, valued at approximately $641,000.

Several other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in Cleanspark by 37.7% during the 4th quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock worth $3,458,000 after buying an additional 93,649 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Cleanspark in the fourth quarter valued at approximately $2,019,000. Benchmark Financial LLC acquired a new stake in shares of Cleanspark in the fourth quarter valued at approximately $1,255,000. Tudor Investment Corp ET AL boosted its holdings in shares of Cleanspark by 496.7% in the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after acquiring an additional 1,441,939 shares during the period. Finally, Fiduciary Alliance LLC purchased a new position in shares of Cleanspark during the fourth quarter worth approximately $2,203,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Trading Up 1.0%

Shares of Cleanspark stock opened at $13.03 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 business has a fifty day simple moving average of $15.30 and a 200-day simple moving average of $12.43. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of -6.20 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last issued its quarterly 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 negative net margin of 67.66% and a positive return on equity of 7.07%. The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.35 million. During the same quarter last year, the company posted ($0.49) EPS. The firm’s revenue was down 24.9% compared to the same quarter last year. On average, equities analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Cleanspark from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup began coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued an “outperform” rating for the company. Keefe, Bruyette & Woods boosted their price target on Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Maxim Group upped their price target on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, HC Wainwright restated a “buy” rating on shares of Cleanspark in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.34.

Cleanspark 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.