Harvest Portfolios Group Inc. Sells 78,290 Shares of Cleanspark, Inc. $CLSK

Harvest Portfolios Group Inc. reduced its position in shares of Cleanspark, Inc. (NASDAQ:CLSK) by 33.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,359 shares of the company’s stock after selling 78,290 shares during the quarter. Harvest Portfolios Group Inc. owned 0.06% of Cleanspark worth $1,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CLSK. Integrated Wealth Concepts LLC bought a new stake in Cleanspark during the 1st quarter valued at about $68,000. Caxton Associates LLP bought a new stake in Cleanspark during the 1st quarter valued at about $169,000. United Services Automobile Association bought a new stake in Cleanspark during the 1st quarter valued at about $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cleanspark by 16.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after purchasing an additional 86,229 shares in the last quarter. Finally, Strs Ohio bought a new stake in Cleanspark during the 1st quarter valued at about $38,000. 43.12% of the stock is currently owned by institutional investors.

Cleanspark Stock Performance

Shares of NASDAQ CLSK opened at $15.40 on Thursday. The firm has a 50 day moving average of $11.20 and a 200 day moving average of $11.72. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -7.33 and a beta of 3.71. Cleanspark, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61.

Cleanspark (NASDAQ:CLSK) last announced its earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) 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 business had revenue of $136.41 million for the quarter, compared to the consensus estimate of $145.36 million. During the same quarter last year, the firm posted ($0.49) earnings per share. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, research analysts anticipate that Cleanspark, Inc. will post -1.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of research analyst reports. Maxim Group lifted their price target on shares of Cleanspark from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods lifted their price target 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. B. Riley Financial reduced their price target on shares of Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Cantor Fitzgerald reduced their price target on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Needham & Company LLC lifted their price target on shares of Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.44.

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.