Vanguard Group Inc. Reduces Stock Holdings in Cleanspark, Inc. $CLSK

Vanguard Group Inc. reduced its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 25,097,687 shares of the company’s stock after selling 954,163 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Cleanspark worth $253,989,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CLSK. Integrated Wealth Concepts LLC purchased a new position in Cleanspark in the first quarter valued at approximately $68,000. Caxton Associates LLP purchased a new position in Cleanspark in the first quarter valued at approximately $169,000. United Services Automobile Association purchased a new position in Cleanspark in the first quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cleanspark by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after purchasing an additional 86,229 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Cleanspark during the first quarter worth approximately $38,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $14.20 on Friday. The firm’s fifty day moving average price is $10.49 and its 200 day moving average price is $12.03. 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 1.29, a current ratio of 10.54 and a quick ratio of 10.54. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -13.27 and a beta of 3.71.

Analysts Set New Price Targets

CLSK has been the topic of a number of research reports. Weiss Ratings lowered shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, February 9th. Needham & Company LLC raised their target price on shares of Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Cantor Fitzgerald lowered their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.29.

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.