Taylor Monnig Sells 25,249 Shares of Cleanspark (NASDAQ:CLSK) Stock

Cleanspark, Inc. (NASDAQ:CLSK) COO Taylor Monnig sold 25,249 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $13.34, for a total value of $336,821.66. Following the transaction, the chief operating officer owned 236,114 shares of the company’s stock, valued at $3,149,760.76. This represents a 9.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Taylor Monnig also recently made the following trade(s):

• On Friday, September 4th, Taylor Monnig sold 4,513 shares of Cleanspark stock. The stock was sold at an average price of $12.61, for a total value of $56,908.93.
• On Friday, August 14th, Taylor Monnig sold 54 shares of Cleanspark stock. The shares were sold at an average price of $11.51, for a total value of $621.54.

Cleanspark Stock Performance

CLSK stock opened at $12.80 on Friday. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -3.40 and a beta of 3.84. The company has a debt-to-equity ratio of 2.34, a quick ratio of 2.11 and a current ratio of 5.91. The stock’s fifty day moving average is $12.91 and its two-hundred day moving average is $12.86.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.42). Cleanspark had a negative return on equity of 18.63% and a negative net margin of 146.90%.The firm had revenue of $138.01 million for the quarter, compared to the consensus estimate of $142.37 million. During the same quarter in the prior year, the company posted $0.90 EPS. The firm’s revenue was down 30.5% on a year-over-year basis. On average, research analysts predict that Cleanspark, Inc. will post -1.4 EPS for the current year.

Institutional Trading of Cleanspark

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Cleanspark in the second quarter valued at $5,521,000. Situational Awareness LP grew its holdings in Cleanspark by 648.4% during the first quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock worth $104,470,000 after acquiring an additional 10,635,739 shares during the period. Bank of America Corp DE raised its position in Cleanspark by 49.2% in the first quarter. Bank of America Corp DE now owns 2,576,687 shares of the company’s stock worth $21,928,000 after acquiring an additional 849,865 shares in the last quarter. Intrinsic Edge Capital Management LLC raised its position in Cleanspark by 617.3% in the first quarter. Intrinsic Edge Capital Management LLC now owns 894,735 shares of the company’s stock worth $7,614,000 after acquiring an additional 770,000 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in Cleanspark by 59.8% in the 4th quarter. Virtu Financial LLC now owns 175,903 shares of the company’s stock valued at $1,780,000 after acquiring an additional 65,857 shares during the last quarter. 43.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CLSK. Citigroup started coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued an “outperform” rating on the stock. B. Riley Financial boosted their price objective on Cleanspark from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Citizens Jmp initiated coverage on Cleanspark in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price objective for the company. Needham & Company LLC raised their target price on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cleanspark in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.88.

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.