Mangrove Partners IM LLC Makes New $936,000 Investment in Cleanspark, Inc. $CLSK

Mangrove Partners IM LLC purchased a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 92,448 shares of the company’s stock, valued at approximately $936,000.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in Cleanspark during the 3rd quarter worth about $26,000. Morse Asset Management Inc purchased a new stake in Cleanspark during the 3rd quarter worth about $32,000. Danske Bank A S purchased a new stake in Cleanspark during the 4th quarter worth about $25,000. Smartleaf Asset Management LLC increased its holdings in Cleanspark by 38.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after purchasing an additional 745 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in Cleanspark by 5,081.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock worth $44,000 after purchasing an additional 2,947 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the topic of a number of recent analyst reports. Maxim Group increased their price objective on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Chardan Capital increased their price objective on Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, June 8th. Weiss Ratings downgraded Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Zacks Research downgraded Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Finally, BTIG Research reiterated a “buy” rating and issued a $26.00 price objective on shares of Cleanspark in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Trading Up 0.7%

CLSK opened at $17.26 on Wednesday. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61. The company has a market cap of $4.43 billion, a P/E ratio of -8.22 and a beta of 3.79. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. The business’s 50-day simple moving average is $14.03 and its 200-day simple moving average is $12.20.

Cleanspark (NASDAQ:CLSK) last posted 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). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same period in the previous year, the firm posted ($0.49) earnings per share. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. As a group, equities research analysts expect 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.