Maryland State Retirement & Pension System Cuts Position in Cleanspark, Inc. $CLSK

Maryland State Retirement & Pension System decreased its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 50.0% in the third quarter, HoldingsChannel.com reports. The firm owned 40,525 shares of the company’s stock after selling 40,600 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cleanspark were worth $588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CLSK. GAMMA Investing LLC increased its position in shares of Cleanspark by 7.8% in the third quarter. GAMMA Investing LLC now owns 12,915 shares of the company’s stock valued at $187,000 after buying an additional 932 shares in the last quarter. Vontobel Holding Ltd. grew its stake in Cleanspark by 1.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 72,191 shares of the company’s stock valued at $1,047,000 after acquiring an additional 1,236 shares during the period. Cresset Asset Management LLC grew its stake in Cleanspark by 4.9% in the 2nd quarter. Cresset Asset Management LLC now owns 26,924 shares of the company’s stock valued at $297,000 after acquiring an additional 1,248 shares during the period. Fifth Third Bancorp increased its holdings in Cleanspark by 145.3% in the 2nd quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock worth $32,000 after acquiring an additional 1,694 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Cleanspark by 0.8% during the third quarter. New York State Teachers Retirement System now owns 248,100 shares of the company’s stock worth $3,597,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insider Buying and Selling at Cleanspark

In other news, Director Thomas Leigh Wood sold 85,315 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the transaction, the director owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. The trade was a 67.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $15.02, for a total transaction of $495,660.00. Following the completion of the sale, the director directly owned 107,289 shares of the company’s stock, valued at $1,611,480.78. This represents a 23.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.65% of the stock is owned by corporate insiders.

Cleanspark Price Performance

CLSK stock opened at $13.19 on Friday. Cleanspark, Inc. has a 1 year low of $6.45 and a 1 year high of $23.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18. The firm has a market capitalization of $3.37 billion, a PE ratio of 11.88 and a beta of 3.47. The business has a 50 day simple moving average of $12.31 and a 200-day simple moving average of $13.04.

Analyst Ratings Changes

Several brokerages have recently issued reports on CLSK. HC Wainwright dropped their target price on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. BTIG Research raised their price target on shares of Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Macquarie cut their price objective on Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. JPMorgan Chase & Co. raised Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price for the company in a report on Monday, November 24th. Finally, Wall Street Zen downgraded Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $23.06.

Cleanspark 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.