Thomas Leigh Wood Sells 85,315 Shares of Cleanspark (NASDAQ:CLSK) Stock

Cleanspark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the completion of the sale, the director directly owned 41,421 shares in the company, valued at $484,211.49. This represents a 67.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cleanspark Stock Down 4.9%

CLSK stock traded down $0.59 during mid-day trading on Tuesday, hitting $11.51. 19,118,580 shares of the company were exchanged, compared to its average volume of 33,854,788. The firm has a fifty day simple moving average of $14.76 and a 200 day simple moving average of $12.82. The company has a market capitalization of $2.94 billion, a PE ratio of 10.37 and a beta of 3.79. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $23.61. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.30.

Institutional Investors Weigh In On Cleanspark

A number of hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Cleanspark by 38.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after acquiring an additional 745 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Cleanspark by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock worth $291,000 after purchasing an additional 781 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Cleanspark by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock valued at $375,000 after purchasing an additional 873 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cleanspark by 7.8% during the 3rd quarter. GAMMA Investing LLC now owns 12,915 shares of the company’s stock valued at $187,000 after purchasing an additional 932 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after purchasing an additional 937 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CLSK shares. B. Riley lowered their price objective on Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Chardan Capital reiterated a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a report on Wednesday, November 26th. Cantor Fitzgerald restated an “overweight” rating and set a $21.00 price objective on shares of Cleanspark in a research note on Wednesday, November 26th. BTIG Research lifted their price objective on shares of Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, Needham & Company LLC boosted their target price on shares of Cleanspark from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Eleven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cleanspark has a consensus rating of “Moderate Buy” and a consensus target price of $23.20.

About Cleanspark

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.