Shariaportfolio Inc. Cuts Position in Cleanspark, Inc. $CLSK

Shariaportfolio Inc. lessened its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 19.4% during the third quarter, HoldingsChannel.com reports. The firm owned 555,777 shares of the company’s stock after selling 133,709 shares during the period. Cleanspark accounts for 3.1% of Shariaportfolio Inc.’s portfolio, making the stock its 9th biggest position. Shariaportfolio Inc.’s holdings in Cleanspark were worth $8,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its position in Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Cleanspark in the second quarter valued at about $29,000. Salomon & Ludwin LLC bought a new stake in Cleanspark during the third quarter worth about $32,000. Strs Ohio acquired a new position in shares of Cleanspark during the 1st quarter worth approximately $38,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Cleanspark by 38.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after purchasing an additional 745 shares in the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Trading Down 3.2%

CLSK stock opened at $9.31 on Friday. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $23.61. The company’s 50-day simple moving average is $11.96 and its 200 day simple moving average is $12.91. The company has a market capitalization of $2.38 billion, a PE ratio of -8.70 and a beta of 3.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54.

Insider Transactions at Cleanspark

In related news, Director Amanda Cavaleri sold 33,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 107,289 shares in the company, valued at $1,611,480.78. This represents a 23.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Leigh Wood sold 85,315 shares of the stock in a transaction dated 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 transaction, the director owned 41,421 shares of the company’s stock, valued at $484,211.49. This represents a 67.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLSK. Northland Securities began coverage on shares of Cleanspark in a report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 target price on the stock. Wall Street Zen lowered shares of Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Keefe, Bruyette & Woods lowered their price target on Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday. Zacks Research downgraded Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 22nd. Finally, B. Riley Financial cut their price target on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Cleanspark currently has a consensus rating of “Moderate Buy” and an average price target of $20.70.

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.