Shariaportfolio Inc. Sells 214,860 Shares of Cleanspark, Inc. $CLSK

Shariaportfolio Inc. lowered its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 27.4% during the first quarter, Holdings Channel reports. The firm owned 569,927 shares of the company’s stock after selling 214,860 shares during the period. Cleanspark makes up approximately 2.1% of Shariaportfolio Inc.’s investment portfolio, making the stock its 10th biggest position. Shariaportfolio Inc.’s holdings in Cleanspark were worth $4,850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV grew its stake in Cleanspark by 10.7% during the first quarter. KBC Group NV now owns 8,574 shares of the company’s stock worth $73,000 after buying an additional 828 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Cleanspark by 4.9% during the 2nd quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock worth $297,000 after acquiring an additional 1,248 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Cleanspark by 11.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock worth $245,000 after acquiring an additional 1,680 shares in the last quarter. Franklin Resources Inc. increased its stake in Cleanspark by 1.5% in the third quarter. Franklin Resources Inc. now owns 117,823 shares of the company’s stock valued at $1,708,000 after acquiring an additional 1,727 shares during the last quarter. Finally, Quarry LP bought a new position in Cleanspark in the third quarter valued at approximately $26,000. Institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

Shares of Cleanspark stock opened at $13.76 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 twelve month low of $8.00 and a twelve month high of $23.61. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -6.55 and a beta of 3.83. The company’s fifty day moving average is $15.29 and its 200 day moving average is $12.65.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The company had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.49) earnings per share. Sell-side analysts forecast that Cleanspark, Inc. will post -1.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings downgraded Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. HC Wainwright reissued a “buy” rating on shares of Cleanspark in a report on Tuesday, July 14th. Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp began coverage on Cleanspark in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price objective on the stock. Finally, Maxim Group lifted their target price on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen 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.com, Cleanspark currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.35.

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.