Louisiana State Employees Retirement System Takes Position in Cleanspark, Inc. $CLSK

Louisiana State Employees Retirement System purchased a new position in Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 113,400 shares of the company’s stock, valued at approximately $965,000.

Several other institutional investors have also made changes to their positions in CLSK. Quarry LP purchased a new position in Cleanspark during the third quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in Cleanspark in the 3rd quarter worth approximately $32,000. Danske Bank A S acquired a new stake in shares of Cleanspark during the 4th quarter valued at $25,000. CIBC Private Wealth Group LLC boosted its stake 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 buying an additional 2,947 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Cleanspark by 2,019.6% during the 3rd 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 in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Price Performance

NASDAQ CLSK opened at $12.62 on Monday. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a fifty day simple moving average of $15.28 and a 200 day simple moving average of $12.34. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The company has a market cap of $3.24 billion, a P/E ratio of -6.01 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings data on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The business had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. During the same quarter in the previous year, the firm posted ($0.49) earnings per share. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, sell-side analysts predict that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Chardan Capital lifted their price objective on Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Keefe, Bruyette & Woods boosted their target price on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Citigroup assumed coverage on Cleanspark in a research report on Wednesday, June 24th. They issued an “outperform” rating on the stock. Finally, Citizens Jmp initiated coverage on Cleanspark in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.