Cleanspark (NASDAQ:CLSK) COO Sells 4,513 Shares of Stock

Cleanspark, Inc. (NASDAQ:CLSK) COO Taylor Monnig sold 4,513 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $12.61, for a total value of $56,908.93. Following the completion of the transaction, the chief operating officer directly owned 258,969 shares in the company, valued at approximately $3,265,599.09. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Taylor Monnig also recently made the following trade(s):

• On Tuesday, September 8th, Taylor Monnig sold 25,249 shares of Cleanspark stock. The stock was sold at an average price of $13.34, for a total value of $336,821.66.
• On Friday, August 14th, Taylor Monnig sold 54 shares of Cleanspark stock. The shares were sold at an average price of $11.51, for a total transaction of $621.54.

Cleanspark Trading Down 1.5%

NASDAQ CLSK traded down $0.20 during trading hours on Wednesday, reaching $13.28. The company had a trading volume of 14,053,004 shares, compared to its average volume of 18,057,584. The company has a current ratio of 5.91, a quick ratio of 2.11 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $3.41 billion, a P/E ratio of -3.52 and a beta of 3.84. The stock has a 50-day moving average of $12.90 and a 200 day moving average of $12.84. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The company had revenue of $138.01 million during the quarter, compared to analysts’ expectations of $142.37 million. During the same period last year, the firm posted $0.90 earnings per share. Cleanspark’s revenue was down 30.5% on a year-over-year basis. As a group, research analysts anticipate that Cleanspark, Inc. will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cleanspark

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Situational Awareness LP raised its holdings in shares of Cleanspark by 648.4% in the 1st quarter. Situational Awareness LP now owns 12,276,139 shares of the company’s stock valued at $104,470,000 after purchasing an additional 10,635,739 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cleanspark by 81.3% during the first quarter. Dimensional Fund Advisors LP now owns 14,102,777 shares of the company’s stock worth $120,007,000 after purchasing an additional 6,323,715 shares in the last quarter. Marex Group plc raised its stake in Cleanspark by 23,812.2% in the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock valued at $54,654,000 after buying an additional 5,377,976 shares in the last quarter. California State Teachers Retirement System raised its stake in Cleanspark by 1,290.7% in the second quarter. California State Teachers Retirement System now owns 4,181,583 shares of the company’s stock valued at $60,842,000 after buying an additional 3,880,895 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Cleanspark during the 3rd quarter worth about $56,056,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price objective on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Chardan Capital reiterated a “buy” rating and set a $21.00 price target on shares of Cleanspark in a research note on Monday, August 10th. BTIG Research reissued a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research report on Tuesday, July 14th. Citizens Jmp assumed coverage on shares of Cleanspark in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price objective for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of Cleanspark from $16.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Cleanspark has an average rating of “Moderate Buy” and an average target price of $23.88.

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.