Pictet Asset Management Holding SA trimmed its holdings in shares of Cleanspark, Inc. (NASDAQ:CLSK – Free Report) by 44.9% in the first quarter, Holdings Channel reports. The firm owned 52,076 shares of the company’s stock after selling 42,521 shares during the period. Pictet Asset Management Holding SA’s holdings in Cleanspark were worth $443,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its stake in Cleanspark by 37.7% during the 4th quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock valued at $3,458,000 after acquiring an additional 93,649 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Cleanspark during the fourth quarter valued at approximately $2,019,000. Benchmark Financial LLC acquired a new stake in Cleanspark during the fourth quarter valued at approximately $1,255,000. Tudor Investment Corp ET AL lifted its holdings in Cleanspark by 496.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock worth $25,118,000 after buying an additional 1,441,939 shares during the last quarter. Finally, Azora Capital LP bought a new stake in shares of Cleanspark in the 3rd quarter valued at approximately $15,300,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
CLSK has been the topic of a number of research reports. Cantor Fitzgerald dropped their target price 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. Needham & Company LLC lifted their target price on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Maxim Group lifted their price target on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Citigroup began coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued an “outperform” rating for the company. Finally, Chardan Capital reiterated a “buy” rating and set a $19.00 price objective on shares of Cleanspark in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.12.
Cleanspark Trading Down 0.3%
Shares of NASDAQ:CLSK opened at $12.85 on Friday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -6.12 and a beta of 3.83. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The company has a 50 day moving average price of $15.35 and a 200 day moving average price of $12.37.
Cleanspark (NASDAQ:CLSK – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. During the same period in the prior year, the company posted ($0.49) EPS. Cleanspark’s quarterly revenue was down 24.9% on a year-over-year basis. On average, research analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.
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.
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