Virtu Financial LLC Boosts Stake in Cleanspark, Inc. $CLSK

Virtu Financial LLC increased its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 59.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 175,903 shares of the company’s stock after buying an additional 65,857 shares during the quarter. Virtu Financial LLC’s holdings in Cleanspark were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marex Group plc lifted its holdings in Cleanspark by 23,812.2% in the fourth quarter. Marex Group plc now owns 5,400,561 shares of the company’s stock valued at $54,654,000 after acquiring an additional 5,377,976 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of Cleanspark in the third quarter valued at approximately $56,056,000. Dimensional Fund Advisors LP raised its stake in shares of Cleanspark by 80.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,779,062 shares of the company’s stock worth $78,731,000 after buying an additional 3,467,841 shares during the period. Renaissance Technologies LLC acquired a new position in Cleanspark during the fourth quarter worth $26,125,000. Finally, Situational Awareness LP purchased a new stake in shares of Cleanspark during the fourth quarter worth about $16,601,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CLSK. Keefe, Bruyette & Woods raised their price target 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. Cantor Fitzgerald decreased their target price on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Needham & Company LLC raised their target price on Cleanspark from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Maxim Group boosted their price target on Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings downgraded Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Cleanspark currently has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Cleanspark Stock Performance

NASDAQ:CLSK opened at $17.24 on Friday. The company’s 50-day moving average is $14.50 and its two-hundred day moving average is $12.27. 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 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -8.21 and a beta of 3.79.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings data on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). The business had revenue of $136.41 million during the quarter, compared to analyst estimates of $145.35 million. Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The company’s revenue was down 24.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.49) earnings per share. Analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current year.

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.