Azora Capital LP Acquires Shares of 1,055,201 Cleanspark, Inc. $CLSK

Azora Capital LP bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,055,201 shares of the company’s stock, valued at approximately $15,300,000. Azora Capital LP owned about 0.35% of Cleanspark as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CLSK. Baird Financial Group Inc. increased its position in Cleanspark by 191.6% in the second quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock worth $3,530,000 after purchasing an additional 210,307 shares during the period. X Square Capital LLC acquired a new position in Cleanspark during the 3rd quarter valued at about $2,900,000. Voya Investment Management LLC boosted its stake in shares of Cleanspark by 119.6% in the 3rd quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock valued at $4,803,000 after purchasing an additional 180,371 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Cleanspark by 35.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,417,107 shares of the company’s stock valued at $20,548,000 after purchasing an additional 373,259 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Cleanspark during the 2nd quarter worth approximately $6,616,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Insider Buying and Selling

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the completion of the sale, the director owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. This represents a 67.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.08% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the subject of a number of recent research reports. Needham & Company LLC dropped their price target on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Weiss Ratings lowered shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th. B. Riley Financial dropped their target price on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Cantor Fitzgerald cut their price target on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Finally, Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Cleanspark Stock Performance

Shares of CLSK stock opened at $9.76 on Friday. The stock has a market cap of $2.50 billion, a PE ratio of -9.12 and a beta of 3.51. The stock has a 50-day moving average of $11.01 and a 200-day moving average of $12.86. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark, Inc. has a one year low of $6.45 and a one year high of $23.61.

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.