Mangrove Partners IM LLC Makes New Investment in Cleanspark, Inc. $CLSK

Mangrove Partners IM LLC purchased a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 92,448 shares of the company’s stock, valued at approximately $936,000.

Several other institutional investors also recently added to or reduced their stakes in CLSK. Danske Bank A S acquired a new position in Cleanspark during the fourth quarter worth approximately $25,000. Quarry LP acquired a new position in Cleanspark during the third quarter worth approximately $26,000. Morse Asset Management Inc acquired a new position in Cleanspark during the third quarter worth approximately $32,000. Strs Ohio acquired a new position in Cleanspark during the first quarter worth approximately $38,000. Finally, Smartleaf Asset Management LLC increased its position in Cleanspark by 38.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after buying an additional 745 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Cleanspark Trading Up 0.7%

Shares of CLSK stock opened at $17.26 on Wednesday. The business’s 50 day moving average is $14.03 and its two-hundred day moving average is $12.20. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61. The company has a market capitalization of $4.43 billion, a P/E ratio of -8.22 and a beta of 3.79. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same quarter last year, the business posted ($0.49) earnings per share. The company’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Chardan Capital lifted their price target on Cleanspark from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Zacks Research lowered Cleanspark from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Cantor Fitzgerald lowered their target price on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Needham & Company LLC lifted their target price on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Weiss Ratings downgraded Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

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.