Odyssean LLC Invests $878,000 in Cleanspark, Inc. $CLSK

Odyssean LLC bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,349 shares of the company’s stock, valued at approximately $878,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Danske Bank A S purchased a new position in shares of Cleanspark during the fourth quarter valued at about $25,000. Quarry LP bought a new stake in shares of Cleanspark in the third quarter worth about $26,000. Morse Asset Management Inc purchased a new stake in shares of Cleanspark in the third quarter worth about $32,000. Strs Ohio purchased a new stake in shares of Cleanspark in the first quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Cleanspark by 5,081.0% during the third 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 last quarter. 43.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CLSK. HC Wainwright restated a “buy” rating on shares of Cleanspark in a report on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and set a $26.00 price objective on shares of Cleanspark in a report on Tuesday, July 14th. Citizens Jmp assumed coverage on Cleanspark in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 target price for the company. Chardan Capital reissued a “buy” rating and issued a $21.00 target price on shares of Cleanspark in a report on Monday, August 10th. Finally, B. Riley Financial boosted their price target on shares of Cleanspark from $19.00 to $26.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.88.

Cleanspark Stock Up 0.9%

Shares of NASDAQ CLSK opened at $12.69 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 5.91 and a quick ratio of 2.11. The company has a market cap of $3.26 billion, a P/E ratio of -3.37 and a beta of 3.84. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The firm has a 50-day simple moving average of $12.98 and a two-hundred day simple moving average of $12.74.

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

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.