Magnetar Financial LLC Purchases 365,762 Shares of Cleanspark, Inc. $CLSK

Magnetar Financial LLC raised its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 619.6% during the third quarter, HoldingsChannel.com reports. The firm owned 424,795 shares of the company’s stock after acquiring an additional 365,762 shares during the quarter. Magnetar Financial LLC’s holdings in Cleanspark were worth $6,160,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Cleanspark during the third quarter worth approximately $32,000. Strs Ohio acquired a new position in Cleanspark in the first quarter valued at approximately $38,000. Smartleaf Asset Management LLC boosted its stake in Cleanspark by 38.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after acquiring an additional 745 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in 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 acquiring an additional 3,716 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

Shares of Cleanspark stock opened at $9.63 on Wednesday. The stock’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $12.88. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.46 billion, a PE ratio of -9.00 and a beta of 3.51. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $23.61.

Insider Activity

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total value of $997,332.35. Following the completion of the sale, the director directly owned 41,421 shares in the company, valued at $484,211.49. This represents a 67.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on CLSK shares. Chardan Capital dropped their target price on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Macquarie Infrastructure reduced their price target on Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Wall Street Zen cut Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings downgraded Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th. Finally, Maxim Group began coverage on Cleanspark in a research note on Thursday, January 8th. They issued a “buy” rating and a $22.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.60.

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.