Headlands Technologies LLC Grows Stake in Cleanspark, Inc. $CLSK

Headlands Technologies LLC grew its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 214.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 512,476 shares of the company’s stock after purchasing an additional 349,658 shares during the quarter. Cleanspark accounts for 0.8% of Headlands Technologies LLC’s investment portfolio, making the stock its 17th biggest position. Headlands Technologies LLC owned 0.20% of Cleanspark worth $7,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of CLSK. Integrated Wealth Concepts LLC acquired a new stake in shares of Cleanspark in the first quarter valued at about $68,000. Caxton Associates LLP acquired a new position in Cleanspark during the 1st quarter worth approximately $169,000. United Services Automobile Association acquired a new position in Cleanspark during the 1st quarter worth approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Cleanspark by 16.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock worth $4,025,000 after acquiring an additional 86,229 shares during the period. Finally, Strs Ohio purchased a new position in Cleanspark in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

Shares of NASDAQ CLSK opened at $11.66 on Monday. The company has a quick ratio of 2.11, a current ratio of 5.91 and a debt-to-equity ratio of 2.34. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The business has a 50 day moving average price of $13.46 and a two-hundred day moving average price of $12.69. The firm has a market cap of $2.99 billion, a PE ratio of -3.09 and a beta of 3.86.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.42). The business had revenue of $138.01 million during the quarter, compared to analyst estimates of $142.37 million. Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share. Sell-side analysts expect that Cleanspark, Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CLSK shares. Citizens Jmp started coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They set a “market outperform” rating and a $27.00 price objective on the stock. HC Wainwright reissued a “buy” rating on shares of Cleanspark in a research report on Friday, August 7th. B. Riley Financial upped their target price on shares of Cleanspark from $19.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Zacks Research raised shares of Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Finally, Maxim Group lifted their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.88.

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.