Cleanspark, Inc. $CLSK Stake Boosted by HighTower Advisors LLC

HighTower Advisors LLC lifted its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 351.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,298 shares of the company’s stock after purchasing an additional 160,650 shares during the quarter. HighTower Advisors LLC owned about 0.07% of Cleanspark worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its stake in Cleanspark by 191.6% in the second quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock valued at $3,530,000 after buying an additional 210,307 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Cleanspark by 119.6% in the 3rd quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock worth $4,803,000 after acquiring an additional 180,371 shares during the period. Nisa Investment Advisors LLC lifted its position in Cleanspark by 620.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after purchasing an additional 47,787 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Cleanspark by 35.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,417,107 shares of the company’s stock valued at $20,548,000 after purchasing an additional 373,259 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Cleanspark during the 2nd quarter valued at about $2,105,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald cut their price target on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. HC Wainwright cut their target price on Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Sanford C. Bernstein boosted their price target on Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Keefe, Bruyette & Woods decreased their price target on Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Finally, Needham & Company LLC cut their price objective on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Cleanspark Trading Down 0.1%

Shares of Cleanspark stock opened at $10.44 on Friday. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of -9.76 and a beta of 3.47. The business has a fifty day simple moving average of $11.29 and a 200-day simple moving average of $12.83. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61.

Insider Activity

In related news, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the sale, the director directly owned 41,421 shares in the company, valued at $484,211.49. The trade was a 67.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total transaction of $495,660.00. Following the sale, the director owned 107,289 shares of the company’s stock, valued at $1,611,480.78. The trade was a 23.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.08% of the stock is currently owned by insiders.

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.