Empowered Funds LLC Invests $2.14 Million in Cleanspark, Inc. $CLSK

Empowered Funds LLC purchased a new position in Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 251,697 shares of the company’s stock, valued at approximately $2,142,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S bought a new position in Cleanspark during the 4th quarter worth approximately $25,000. Quarry LP acquired a new position in shares of Cleanspark in the 3rd quarter worth approximately $26,000. Morse Asset Management Inc bought a new stake in shares of Cleanspark in the 3rd quarter valued at approximately $32,000. Strs Ohio bought a new stake in shares of Cleanspark in the 1st quarter valued at approximately $38,000. Finally, CIBC Private Wealth Group LLC raised its position in shares of Cleanspark by 5,081.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after acquiring an additional 2,947 shares in the last quarter. 43.12% of the stock is owned by institutional investors.

Cleanspark Price Performance

Shares of NASDAQ CLSK opened at $12.75 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 capitalization of $3.27 billion, a PE ratio of -6.07 and a beta of 3.86. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The business’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $12.67.

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 analyst estimates of $145.35 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 period last year, the firm posted ($0.49) EPS. On average, research analysts expect that Cleanspark, Inc. will post -1.23 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLSK. Maxim Group raised their price objective on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Needham & Company LLC increased their target price on shares of Cleanspark from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. BTIG Research restated a “buy” rating and issued a $26.00 price target on shares of Cleanspark in a research report on Tuesday, July 14th. Citizens Jmp started coverage on shares of Cleanspark in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cleanspark in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.88.

Cleanspark 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.