Legal & General Group Plc Sells 33,633 Shares of Cleanspark, Inc. $CLSK

Legal & General Group Plc decreased its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 648,535 shares of the company’s stock after selling 33,633 shares during the period. Legal & General Group Plc owned approximately 0.25% of Cleanspark worth $6,563,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Hantz Financial Services Inc. increased its position in Cleanspark by 174.8% during the fourth quarter. Hantz Financial Services Inc. now owns 4,804 shares of the company’s stock valued at $49,000 after acquiring an additional 3,056 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Cleanspark during the fourth quarter valued at $224,000. Leonteq Securities AG purchased a new stake in shares of Cleanspark during the fourth quarter valued at $778,000. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Cleanspark during the fourth quarter valued at $4,918,000. Finally, ProShare Advisors LLC boosted its stake in shares of Cleanspark by 5.5% during the fourth quarter. ProShare Advisors LLC now owns 55,249 shares of the company’s stock valued at $559,000 after purchasing an additional 2,886 shares during the period. Institutional investors own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

CLSK has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. BTIG Research reissued a “buy” rating and set a $26.00 target price on shares of Cleanspark in a research note on Tuesday, May 12th. Needham & Company LLC boosted their target price on shares of Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Keefe, Bruyette & Woods boosted their target price on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and a consensus target price of $20.44.

Cleanspark Stock Down 7.1%

NASDAQ:CLSK opened at $15.59 on Friday. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The company has a 50-day moving average of $12.96 and a 200 day moving average of $11.93. The firm has a market cap of $4.00 billion, a PE ratio of -7.42 and a beta of 3.79. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The business had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same period last year, the company earned ($0.49) earnings per share. The firm’s revenue was down 24.9% compared to the same quarter last year. As a group, research analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

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.