Van ECK Associates Corp Reduces Stock Position in Cleanspark, Inc. $CLSK

Van ECK Associates Corp trimmed its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 28.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,120,861 shares of the company’s stock after selling 853,222 shares during the period. Van ECK Associates Corp’s holdings in Cleanspark were worth $30,752,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after acquiring an additional 937 shares during the period. Salomon & Ludwin LLC acquired a new position in Cleanspark during the third quarter worth $32,000. Strs Ohio purchased a new stake in Cleanspark during the first quarter worth $38,000. Smartleaf Asset Management LLC boosted its position in Cleanspark by 38.9% during the third 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. Finally, Parallel Advisors LLC grew its holdings in Cleanspark by 2,019.6% in the third quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock valued at $57,000 after purchasing an additional 3,716 shares during the last quarter. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Up 1.9%

CLSK opened at $9.81 on Thursday. The firm has a market cap of $2.51 billion, a P/E ratio of -9.17 and a beta of 3.51. The business’s fifty day simple moving average is $11.06 and its 200 day simple moving average is $12.86. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $23.61. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29.

Wall Street Analysts Forecast Growth

CLSK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upgraded Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target for the company in a research report on Monday, November 24th. Weiss Ratings cut shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. 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 for the company. Maxim Group initiated coverage on shares of Cleanspark in a report on Thursday, January 8th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Chardan Capital lowered their price target on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Transactions at Cleanspark

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 shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director directly owned 41,421 shares in the company, valued at approximately $484,211.49. This represents a 67.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.08% of the company’s stock.

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.