Cleanspark, Inc. $CLSK Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 66.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 149,471 shares of the company’s stock after acquiring an additional 59,830 shares during the period. Janney Montgomery Scott LLC’s holdings in Cleanspark were worth $1,272,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLSK. Quarry LP acquired a new stake in shares of Cleanspark during the third quarter worth about $26,000. Morse Asset Management Inc purchased a new position in shares of Cleanspark in the third quarter valued at approximately $32,000. Danske Bank A S acquired a new position in shares of Cleanspark in the fourth quarter valued at approximately $25,000. CIBC Private Wealth Group LLC grew its holdings in shares of Cleanspark by 5,081.0% in the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock valued at $44,000 after purchasing an additional 2,947 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Cleanspark by 2,019.6% during the 3rd quarter. Parallel Advisors LLC now owns 3,900 shares of the company’s stock worth $57,000 after buying an additional 3,716 shares during the period. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CLSK. Citigroup initiated coverage on shares of Cleanspark in a report on Wednesday, June 24th. They set an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of Cleanspark in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price target for the company. Cantor Fitzgerald cut their price objective on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings cut Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Cleanspark presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.12.

Cleanspark Stock Down 0.3%

Shares of CLSK stock traded down $0.04 during trading hours on Friday, reaching $12.85. 13,290,890 shares of the stock were exchanged, compared to its average volume of 16,920,206. The business’s fifty day moving average is $15.35 and its two-hundred day moving average is $12.37. 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, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61. The firm has a market capitalization of $3.30 billion, a P/E ratio of -6.12 and a beta of 3.83.

Cleanspark (NASDAQ:CLSK) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) 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 firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.35 million. During the same quarter in the prior year, the firm earned ($0.49) EPS. The firm’s revenue was down 24.9% compared to the same quarter last year. As a group, research analysts expect that Cleanspark, Inc. will post -1.19 EPS for the current fiscal 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.