Cleanspark, Inc. $CLSK Shares Bought by Situational Awareness LP

Situational Awareness LP grew its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 648.4% in the 1st quarter, Holdings Channel reports. The fund owned 12,276,139 shares of the company’s stock after purchasing an additional 10,635,739 shares during the quarter. Cleanspark comprises 0.8% of Situational Awareness LP’s portfolio, making the stock its 8th biggest holding. Situational Awareness LP’s holdings in Cleanspark were worth $104,470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in Cleanspark during the 3rd quarter valued at $26,000. Morse Asset Management Inc bought a new position in shares of Cleanspark during the 3rd quarter worth about $32,000. Danske Bank A S acquired a new position in shares of Cleanspark during the fourth quarter valued at about $25,000. CIBC Private Wealth Group LLC raised its position in shares of Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after buying an additional 2,947 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Cleanspark by 2,019.6% in the third quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock valued at $57,000 after buying an additional 3,716 shares during the period. Institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC boosted their price target on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. HC Wainwright reiterated a “buy” rating on shares of Cleanspark in a research report on Tuesday, July 14th. Weiss Ratings cut Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Keefe, Bruyette & Woods upped their target price on Cleanspark from $16.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Maxim Group lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cleanspark has an average rating of “Moderate Buy” and a consensus target price of $23.35.

Cleanspark Stock Down 3.9%

CLSK opened at $13.48 on Wednesday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of -6.42 and a beta of 3.83. 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 firm’s 50-day simple moving average is $15.43 and its 200-day simple moving average is $12.62. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). The firm had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.49) earnings per share. Equities research analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

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.