Cleanspark, Inc. $CLSK Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 7,410,980 shares of the company’s stock after selling 78,161 shares during the period. Geode Capital Management LLC’s holdings in Cleanspark were worth $75,010,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of CLSK. Hantz Financial Services Inc. increased its stake in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the period. Danske Bank A S acquired a new position in Cleanspark in the fourth quarter valued at $25,000. Quarry LP acquired a new position in Cleanspark in the third quarter valued at $26,000. Morse Asset Management Inc acquired a new position in Cleanspark in the third quarter valued at $32,000. Finally, Strs Ohio acquired a new position in Cleanspark in the first quarter valued at $38,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLSK has been the topic of a number of recent research reports. Cantor Fitzgerald dropped their price objective 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. Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Zacks Research downgraded shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. B. Riley Financial lowered their target price 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. Finally, Chardan Capital lifted their target price on shares of Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Cleanspark currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Stock Up 6.0%

Shares of NASDAQ:CLSK opened at $16.52 on Tuesday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -7.87 and a beta of 3.79. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The firm’s 50-day simple moving average is $13.10 and its 200-day simple moving average is $11.98. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81.

Cleanspark (NASDAQ:CLSK) last released 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). The company had revenue of $136.41 million for the quarter, compared to analysts’ expectations of $145.36 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The firm’s quarterly revenue was down 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.49) EPS. As a group, equities research analysts predict that Cleanspark, Inc. will post -1.19 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.