CloudAlpha Capital Management Limited Hong Kong Buys New Position in Cleanspark, Inc. $CLSK

CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 486,000 shares of the company’s stock, valued at approximately $4,918,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC raised its holdings in Cleanspark by 5.5% in the 4th quarter. ProShare Advisors LLC now owns 55,249 shares of the company’s stock valued at $559,000 after acquiring an additional 2,886 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in shares of Cleanspark during the fourth quarter worth $90,000. Phoenix Financial Ltd. grew its position in shares of Cleanspark by 10.7% in the fourth quarter. Phoenix Financial Ltd. now owns 39,379 shares of the company’s stock valued at $398,000 after purchasing an additional 3,800 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Cleanspark in the fourth quarter valued at $105,000. Finally, Navellier & Associates Inc. acquired a new position in Cleanspark in the fourth quarter valued at $102,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Stock Up 9.3%

Shares of NASDAQ:CLSK opened at $14.69 on Wednesday. The stock has a 50-day simple moving average of $11.08 and a 200-day simple moving average of $11.74. The stock has a market capitalization of $3.77 billion, a P/E ratio of -7.00 and a beta of 3.71. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26.

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

Wall Street Analyst Weigh In

CLSK has been the topic of several recent analyst reports. Maxim Group increased their target price on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Zacks Research downgraded shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Needham & Company LLC boosted their target price on shares of Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 4th. BTIG Research reaffirmed a “buy” rating and set a $26.00 price target on shares of Cleanspark in a research note on Tuesday, May 12th. Finally, B. Riley Financial decreased their price target on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.44.

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.