Foundations Investment Advisors LLC Takes Position in Cleanspark, Inc. $CLSK

Foundations Investment Advisors LLC bought a new stake in Cleanspark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 83,641 shares of the company’s stock, valued at approximately $846,000.

Other hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its stake in shares of Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the last quarter. Danske Bank A S bought a new position in shares of Cleanspark in the 4th quarter valued at about $25,000. Quarry LP bought a new position in shares of Cleanspark in the 3rd quarter valued at about $26,000. Morse Asset Management Inc bought a new position in shares of Cleanspark in the 3rd quarter valued at about $32,000. Finally, Strs Ohio bought a new position in shares of Cleanspark in the 1st quarter valued at about $38,000. Institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

NASDAQ CLSK opened at $18.29 on Monday. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. Cleanspark, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61. The company has a market capitalization of $4.69 billion, a PE ratio of -8.71 and a beta of 3.79. The firm’s 50 day moving average is $12.21 and its 200-day moving average is $11.76.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.36 million. During the same quarter last year, the business earned ($0.49) earnings per share. Cleanspark’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities research analysts anticipate that Cleanspark, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLSK. Keefe, Bruyette & Woods raised their target price on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Maxim Group raised their target price on shares of Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC raised their target price on shares of Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 4th. BTIG Research reiterated a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research report on Tuesday, May 12th. 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 research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.44.

About Cleanspark

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.