State of New Jersey Common Pension Fund D Takes $2.02 Million Position in Cleanspark, Inc. $CLSK

State of New Jersey Common Pension Fund D bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 199,524 shares of the company’s stock, valued at approximately $2,019,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLSK. Vanguard Group Inc. increased its holdings in Cleanspark by 3.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock worth $377,752,000 after purchasing an additional 769,148 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Cleanspark by 22.1% during the 3rd quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock valued at $64,997,000 after buying an additional 810,203 shares during the last quarter. Tidal Investments LLC grew its position in shares of Cleanspark by 13.3% during the third 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cleanspark by 57.0% in 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 during the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Cleanspark in the third quarter valued at $56,056,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CLSK shares. Keefe, Bruyette & Woods decreased their price objective on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Northland Securities assumed coverage on Cleanspark in a report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 target price on the stock. B. Riley Financial lowered their price target on Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Weiss Ratings lowered Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Cleanspark in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.29.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $14.20 on Monday. The firm has a market capitalization of $3.63 billion, a P/E ratio of -13.27 and a beta of 3.71. The business has a 50 day simple moving average of $10.49 and a 200 day simple moving average of $12.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61.

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.