BIT Capital GmbH Lowers Holdings in Cleanspark, Inc. $CLSK

BIT Capital GmbH trimmed its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 883,654 shares of the company’s stock after selling 85,571 shares during the period. BIT Capital GmbH’s holdings in Cleanspark were worth $8,943,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in CLSK. Hantz Financial Services Inc. boosted its holdings in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the last quarter. Danske Bank A S purchased a new stake in Cleanspark in the fourth quarter valued at $25,000. Quarry LP purchased a new stake in shares of Cleanspark during the 3rd quarter worth about $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark during the 3rd quarter worth about $32,000. Finally, Strs Ohio purchased a new stake in shares of Cleanspark during the 1st quarter worth about $38,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CLSK. Maxim Group increased their target price on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Chardan Capital reissued a “buy” rating and set a $16.00 target price on shares of Cleanspark in a research note on Wednesday, April 8th. Weiss Ratings lowered shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Keefe, Bruyette & Woods increased their target price on shares of Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial lowered their target price on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.44.

Cleanspark Price Performance

Shares of Cleanspark stock opened at $15.59 on Friday. The business has a 50 day simple moving average of $12.96 and a two-hundred day simple moving average of $11.93. Cleanspark, Inc. has a 12 month low of $8.00 and a 12 month high of $23.61. The stock has a market capitalization of $4.00 billion, a P/E ratio of -7.42 and a beta of 3.79. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26.

Cleanspark (NASDAQ:CLSK) last released its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business’s revenue was down 24.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.49) EPS. As a group, analysts predict that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

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.