Caitong International Asset Management Co. Ltd Purchases New Position in Cleanspark, Inc. $CLSK

Caitong International Asset Management Co. Ltd purchased a new position in Cleanspark, Inc. (NASDAQ:CLSK) in the fourth quarter, Holdings Channel reports. The fund purchased 49,815 shares of the company’s stock, valued at approximately $504,000.

A number of other hedge funds also recently bought and sold shares of the business. Danske Bank A S acquired a new stake in Cleanspark in the fourth quarter valued at approximately $25,000. Quarry LP acquired a new position in shares of Cleanspark during the 3rd quarter worth approximately $26,000. Morse Asset Management Inc purchased a new position in shares of Cleanspark during the 3rd quarter valued at approximately $32,000. Strs Ohio purchased a new position in shares of Cleanspark during the 1st quarter valued at approximately $38,000. Finally, CIBC Private Wealth Group LLC grew its stake in Cleanspark by 5,081.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after acquiring an additional 2,947 shares during the period. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

NASDAQ CLSK opened at $17.24 on Friday. Cleanspark, Inc. has a 52 week low of $8.00 and a 52 week high of $23.61. The company has a quick ratio of 8.26, a current ratio of 8.26 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $14.50 and its 200-day simple moving average is $12.27. The firm has a market cap of $4.42 billion, a PE ratio of -8.21 and a beta of 3.79.

Cleanspark (NASDAQ:CLSK) last announced its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The firm had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. During the same period in the previous year, the firm posted ($0.49) EPS. The company’s revenue was down 24.9% compared to the same quarter last year. As a group, equities analysts anticipate that Cleanspark, Inc. will post -1.19 earnings per share for the current year.

Analyst Ratings Changes

CLSK has been the subject of several recent analyst reports. Needham & Company LLC boosted their price target on shares of Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Chardan Capital increased their price objective on shares of Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, June 8th. Cantor Fitzgerald decreased their price objective on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Cleanspark in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Cleanspark from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

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.