Neo Ivy Capital Management Takes Position in Cleanspark, Inc. $CLSK

Neo Ivy Capital Management purchased a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 147,464 shares of the company’s stock, valued at approximately $2,138,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CLSK. Dimensional Fund Advisors LP lifted its position in Cleanspark by 57.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after buying an additional 1,564,761 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cleanspark by 3.0% during the third quarter. Vanguard Group Inc. now owns 26,051,850 shares of the company’s stock valued at $377,752,000 after acquiring an additional 769,148 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Cleanspark by 54.9% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,781,191 shares of the company’s stock valued at $19,647,000 after acquiring an additional 631,662 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Cleanspark in the 2nd quarter valued at approximately $6,616,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Cleanspark by 310.5% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 495,330 shares of the company’s stock valued at $7,182,000 after acquiring an additional 374,671 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total transaction of $997,332.35. Following the sale, the director owned 41,421 shares in the company, valued at $484,211.49. This represents a 67.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CLSK. Keefe, Bruyette & Woods lowered their price objective on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Wall Street Zen lowered Cleanspark from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. raised Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 target price on the stock in a research report on Monday, November 24th. Needham & Company LLC decreased their price target on Cleanspark from $25.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Maxim Group started coverage on Cleanspark in a research report on Thursday, January 8th. They set a “buy” rating and a $22.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Cleanspark Stock Down 7.4%

Shares of NASDAQ CLSK opened at $9.21 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of -8.61 and a beta of 3.51. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $23.61. The business’s fifty day simple moving average is $11.10 and its 200-day simple moving average is $12.84.

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.