Taylor Monnig Sells 4,513 Shares of Cleanspark (NASDAQ:CLSK) Stock

Cleanspark, Inc. (NASDAQ:CLSK) COO Taylor Monnig sold 4,513 shares of Cleanspark stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $12.61, for a total value of $56,908.93. Following the completion of the sale, the chief operating officer directly owned 258,969 shares in the company, valued at approximately $3,265,599.09. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Taylor Monnig also recently made the following trade(s):

• On Tuesday, September 8th, Taylor Monnig sold 25,249 shares of Cleanspark stock. The stock was sold at an average price of $13.34, for a total value of $336,821.66.
• On Friday, August 14th, Taylor Monnig sold 54 shares of Cleanspark stock. The shares were sold at an average price of $11.51, for a total value of $621.54.

Cleanspark Stock Down 3.6%

CLSK stock opened at $12.80 on Friday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of -3.40 and a beta of 3.84. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61. The business has a 50 day moving average price of $12.91 and a two-hundred day moving average price of $12.86. 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 (NASDAQ:CLSK) last announced its quarterly earnings data 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). Cleanspark had a negative return on equity of 18.63% and a negative net margin of 146.90%.The company had revenue of $138.01 million for the quarter, compared to the consensus estimate of $142.37 million. During the same quarter in the prior year, the company earned $0.90 EPS. The company’s revenue for the quarter was down 30.5% on a year-over-year basis. Analysts anticipate that Cleanspark, Inc. will post -1.4 EPS for the current fiscal year.

Institutional Trading of Cleanspark

A number of institutional investors have recently bought and sold shares of the business. Markowski Investments bought a new position in shares of Cleanspark during the second quarter worth approximately $25,000. Quarry LP bought a new stake in shares of Cleanspark in the third quarter valued at approximately $26,000. Morse Asset Management Inc bought a new stake in shares of Cleanspark in the third quarter valued at approximately $32,000. Strs Ohio acquired a new stake in Cleanspark during the first quarter worth approximately $38,000. Finally, CIBC Private Wealth Group LLC increased its stake in Cleanspark by 5,081.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company’s stock worth $44,000 after acquiring an additional 2,947 shares during the period. Institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CLSK shares. Chardan Capital restated a “buy” rating and set a $21.00 price objective on shares of Cleanspark in a research note on Monday, August 10th. Needham & Company LLC boosted their price target on Cleanspark from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. BTIG Research reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Cleanspark in a research report on Tuesday, July 14th. B. Riley Financial boosted their target price on Cleanspark from $19.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Cleanspark in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.88.

Cleanspark Company 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.