Vanguard Group Inc. Buys 769,148 Shares of Cleanspark, Inc. $CLSK

Vanguard Group Inc. boosted its stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,051,850 shares of the company’s stock after buying an additional 769,148 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Cleanspark worth $377,752,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CLSK. Hantz Financial Services Inc. boosted its stake in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after buying an additional 937 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Cleanspark in the second quarter valued at $29,000. Salomon & Ludwin LLC bought a new stake in shares of Cleanspark in the 3rd quarter worth about $32,000. Strs Ohio bought a new stake in shares of Cleanspark in the 1st quarter worth about $38,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Cleanspark by 38.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock worth $40,000 after purchasing an additional 745 shares during the period. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Performance

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Needham & Company LLC dropped their target price on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 6th. B. Riley Financial reduced their price target on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Weiss Ratings lowered Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. Finally, Wall Street Zen cut Cleanspark from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Insider Buying and Selling at Cleanspark

In other news, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction 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 transaction, the director owned 107,289 shares of the company’s stock, valued at approximately $1,611,480.78. This represents a 23.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Leigh Wood sold 85,315 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $484,211.49. This represents a 67.32% decrease in their position. The disclosure for this sale is available in the SEC filing. 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.