52,305 Shares in Cleanspark, Inc. $CLSK Purchased by Washburn Capital Management Inc.

Washburn Capital Management Inc. bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 52,305 shares of the company’s stock, valued at approximately $529,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLSK. Voloridge Investment Management LLC purchased a new position in Cleanspark during the third quarter worth about $56,056,000. Dimensional Fund Advisors LP grew its position in Cleanspark by 57.0% during the third 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 in the last quarter. Tudor Investment Corp ET AL grew its position in Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock worth $25,118,000 after buying an additional 1,441,939 shares in the last quarter. Azora Capital LP purchased a new position in Cleanspark during the third quarter worth about $15,300,000. Finally, SG Americas Securities LLC lifted its stake in Cleanspark by 739.7% during the fourth quarter. SG Americas Securities LLC now owns 1,128,257 shares of the company’s stock worth $11,418,000 after purchasing an additional 993,900 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Trading Up 9.1%

Shares of CLSK stock opened at $9.88 on Thursday. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The business has a 50-day moving average price of $9.79 and a two-hundred day moving average price of $12.74. Cleanspark, Inc. has a 12-month low of $6.56 and a 12-month high of $23.61. The firm has a market cap of $2.53 billion, a P/E ratio of -9.23 and a beta of 3.53.

Analyst Ratings Changes

Several equities research analysts have issued reports on CLSK shares. Needham & Company LLC dropped their price target on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Keefe, Bruyette & Woods dropped their price target on Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Maxim Group started coverage on Cleanspark in a research note on Thursday, January 8th. They set a “buy” rating and a $22.00 price target for the company. Weiss Ratings lowered Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. Finally, Northland Securities started coverage on Cleanspark in a research note on Tuesday, January 13th. They set an “outperform” rating and a $22.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.60.

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.