New York State Teachers Retirement System Decreases Stock Holdings in Cleanspark, Inc. $CLSK

New York State Teachers Retirement System reduced its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 16.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 283,986 shares of the company’s stock after selling 57,763 shares during the quarter. New York State Teachers Retirement System’s holdings in Cleanspark were worth $2,417,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC lifted its position in shares of Cleanspark by 14.6% during the 3rd quarter. FNY Investment Advisers LLC now owns 9,595 shares of the company’s stock valued at $139,000 after acquiring an additional 1,219 shares during the period. Cresset Asset Management LLC raised its holdings in Cleanspark by 4.9% during the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock worth $297,000 after purchasing an additional 1,248 shares during the last quarter. CreativeOne Wealth LLC increased its position in shares of Cleanspark by 11.0% in the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company’s stock valued at $245,000 after buying an additional 1,680 shares in the last quarter. Franklin Resources Inc. grew its position in shares of 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 purchasing an additional 1,727 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Cleanspark in the third quarter valued at approximately $26,000. 43.12% of the stock is owned by hedge funds and other institutional investors.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $12.85 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The firm has a market cap of $3.30 billion, a PE ratio of -6.12 and a beta of 3.83. The firm has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $12.37. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61.

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 analysts’ consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to analyst estimates 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 was down 24.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.49) EPS. On average, equities analysts expect that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on CLSK. Weiss Ratings cut Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Chardan Capital reissued a “buy” rating and set a $19.00 price target on shares of Cleanspark in a research report on Wednesday. Citigroup started coverage on Cleanspark in a report on Wednesday, June 24th. They issued an “outperform” rating for the company. BTIG Research restated a “buy” rating and issued a $26.00 price objective on shares of Cleanspark in a research report on Tuesday, May 12th. Finally, Cantor Fitzgerald decreased their price objective on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.12.

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.