BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in Cleanspark, Inc. $CLSK

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 84.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,523 shares of the company’s stock after selling 419,807 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cleanspark were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cleanspark by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock worth $377,752,000 after buying an additional 769,148 shares during the last quarter. Invesco Ltd. grew its stake in shares of Cleanspark by 22.1% in the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock worth $64,997,000 after buying an additional 810,203 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Cleanspark by 13.3% in the 3rd quarter. Tidal Investments LLC now owns 4,366,437 shares of the company’s stock worth $63,313,000 after buying an additional 514,062 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cleanspark by 57.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock worth $62,521,000 after buying an additional 1,564,761 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Cleanspark in the 3rd quarter worth approximately $56,056,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Trading Down 6.7%

NASDAQ:CLSK opened at $14.90 on Thursday. 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 12 month low of $8.00 and a 12 month high of $23.61. The company has a market cap of $3.82 billion, a PE ratio of -7.10 and a beta of 3.79. The company has a 50 day simple moving average of $13.38 and a two-hundred day simple moving average of $12.05.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods upped 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. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Chardan Capital boosted their price objective on shares of Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday. BTIG Research restated a “buy” rating and issued a $26.00 price objective on shares of Cleanspark in a report on Tuesday, May 12th. Finally, Needham & Company LLC boosted their price objective on shares of Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cleanspark has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

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.