Clear Street Group Inc. Sells 422,464 Shares of Cleanspark, Inc. $CLSK

Clear Street Group Inc. reduced its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 94.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,735 shares of the company’s stock after selling 422,464 shares during the quarter. Clear Street Group Inc.’s holdings in Cleanspark were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLSK. Marex Group plc raised its holdings in Cleanspark by 23,812.2% during the 4th quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock valued at $54,654,000 after buying an additional 5,377,976 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Cleanspark during the 3rd quarter valued at $56,056,000. Dimensional Fund Advisors LP raised its holdings in Cleanspark by 80.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock valued at $78,731,000 after buying an additional 3,467,841 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Cleanspark during the 4th quarter valued at $26,125,000. Finally, Situational Awareness LP bought a new stake in Cleanspark during the 4th quarter valued at $16,601,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Up 4.0%

Shares of NASDAQ CLSK opened at $17.14 on Tuesday. 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 firm has a market capitalization of $4.40 billion, a PE ratio of -8.16 and a beta of 3.79. The firm has a fifty day simple moving average of $13.86 and a two-hundred day simple moving average of $12.17.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings data 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 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 quarter last year, the company posted ($0.49) earnings per share. The firm’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities analysts expect that Cleanspark, Inc. will post -1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLSK. Needham & Company LLC upped their price target on shares of Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 4th. Chardan Capital upped their price target on shares of Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, June 8th. Keefe, Bruyette & Woods upped their price target on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings lowered shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Finally, Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

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.