Diversify Wealth Management LLC Invests $641,000 in Cleanspark, Inc. $CLSK

Diversify Wealth Management LLC bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 75,362 shares of the company’s stock, valued at approximately $641,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Marex Group plc lifted its holdings in Cleanspark by 23,812.2% during the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock worth $54,654,000 after acquiring an additional 5,377,976 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in Cleanspark during the 3rd quarter worth approximately $56,056,000. Dimensional Fund Advisors LP raised its holdings in Cleanspark by 80.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock worth $78,731,000 after buying an additional 3,467,841 shares during the period. Renaissance Technologies LLC bought a new position in Cleanspark in the fourth quarter valued at approximately $26,125,000. Finally, Situational Awareness LP acquired a new position in shares of Cleanspark in the fourth quarter valued at approximately $16,601,000. 43.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CLSK shares. HC Wainwright reaffirmed a “buy” rating on shares of Cleanspark in a research report on Tuesday. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Citizens Jmp started coverage on Cleanspark in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 price target on the stock. Finally, Needham & Company LLC upped their price objective on Cleanspark from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.34.

Cleanspark Trading Up 1.0%

Shares of NASDAQ:CLSK opened at $13.03 on Friday. The business’s 50 day simple moving average is $15.30 and its 200 day simple moving average is $12.43. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The company has a market capitalization of $3.34 billion, a P/E ratio of -6.20 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). The firm had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The business’s revenue was down 24.9% compared to the same quarter last year. During the same period last year, the business earned ($0.49) earnings per share. 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.