Cleanspark, Inc. $CLSK Stake Lifted by HighTower Advisors LLC

HighTower Advisors LLC raised its stake in Cleanspark, Inc. (NASDAQ:CLSK) by 351.9% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 206,298 shares of the company’s stock after buying an additional 160,650 shares during the quarter. HighTower Advisors LLC owned approximately 0.07% of Cleanspark worth $2,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its holdings in shares of Cleanspark by 191.6% in the 2nd quarter. Baird Financial Group Inc. now owns 320,043 shares of the company’s stock worth $3,530,000 after acquiring an additional 210,307 shares during the period. Voya Investment Management LLC grew its position in Cleanspark by 119.6% in the 3rd quarter. Voya Investment Management LLC now owns 331,208 shares of the company’s stock worth $4,803,000 after purchasing an additional 180,371 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Cleanspark by 620.4% in the second quarter. Nisa Investment Advisors LLC now owns 55,490 shares of the company’s stock valued at $612,000 after purchasing an additional 47,787 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Cleanspark by 35.8% during the third quarter. Exchange Traded Concepts LLC now owns 1,417,107 shares of the company’s stock valued at $20,548,000 after buying an additional 373,259 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Cleanspark during the second quarter valued at approximately $2,105,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analyst Weigh In

CLSK has been the topic of several analyst reports. Sanford C. Bernstein raised their target price on Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Needham & Company LLC decreased their price target on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Cantor Fitzgerald lowered their price target on Cleanspark from $21.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. JPMorgan Chase & Co. raised shares of Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Monday, November 24th. Finally, Chardan Capital lowered their target price on shares of Cleanspark from $30.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Cleanspark Trading Down 0.1%

Shares of CLSK stock opened at $10.44 on Friday. The stock has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $12.83. The stock has a market capitalization of $2.67 billion, a P/E ratio of -9.76 and a beta of 3.47. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29.

Insider Activity

In other news, Director Thomas Leigh Wood sold 85,315 shares of Cleanspark stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director owned 41,421 shares of the company’s stock, valued at $484,211.49. The trade was a 67.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total transaction of $495,660.00. Following the completion of the sale, the director owned 107,289 shares in the company, valued at $1,611,480.78. The trade was a 23.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.08% of the company’s stock.

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.