Legal & General Group Plc Sells 33,633 Shares of Cleanspark, Inc. $CLSK

Legal & General Group Plc cut its position in Cleanspark, Inc. (NASDAQ:CLSK) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 648,535 shares of the company’s stock after selling 33,633 shares during the period. Legal & General Group Plc’s holdings in Cleanspark were worth $6,563,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its holdings in Cleanspark by 115.5% in the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after purchasing an additional 937 shares in the last quarter. Danske Bank A S acquired a new position in shares of Cleanspark during the fourth quarter valued at about $25,000. Quarry LP acquired a new position in shares of Cleanspark during the third quarter valued at about $26,000. Morse Asset Management Inc acquired a new position in shares of Cleanspark during the third quarter valued at about $32,000. Finally, Strs Ohio acquired a new position in shares of Cleanspark during the first quarter valued at about $38,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Price Performance

Shares of NASDAQ:CLSK opened at $15.59 on Friday. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61. The company’s 50 day moving average is $12.96 and its 200 day moving average is $11.93. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The company has a market cap of $4.00 billion, a PE ratio of -7.42 and a beta of 3.79.

Cleanspark (NASDAQ:CLSK) last issued its quarterly 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 positive return on equity of 7.07% and a negative net margin of 67.66%.The business had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.36 million. During the same quarter last year, the company posted ($0.49) EPS. Cleanspark’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, sell-side analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on CLSK. Zacks Research downgraded shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Needham & Company LLC upped their price objective on shares of Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, May 4th. B. Riley Financial cut their price objective 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, Cantor Fitzgerald cut their price objective on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.44.

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.