Van ECK Associates Corp Trims Stock Holdings in Cleanspark, Inc. $CLSK

Van ECK Associates Corp decreased its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,120,861 shares of the company’s stock after selling 853,222 shares during the quarter. Van ECK Associates Corp owned about 0.71% of Cleanspark worth $30,752,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in shares of Cleanspark by 38.9% in the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company’s stock valued at $40,000 after buying an additional 745 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Cleanspark by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 20,096 shares of the company’s stock worth $291,000 after buying an additional 781 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Cleanspark by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 25,838 shares of the company’s stock worth $375,000 after buying an additional 873 shares during the last quarter. GAMMA Investing LLC increased its position in Cleanspark by 7.8% in the 3rd quarter. GAMMA Investing LLC now owns 12,915 shares of the company’s stock valued at $187,000 after acquiring an additional 932 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Cleanspark by 115.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock valued at $25,000 after acquiring an additional 937 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Cleanspark Stock Up 1.9%

CLSK opened at $9.81 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark, Inc. has a 12 month low of $6.45 and a 12 month high of $23.61. The stock has a market capitalization of $2.51 billion, a P/E ratio of -9.17 and a beta of 3.51. The business has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $12.86.

Insider Buying and Selling

In other news, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the transaction, the director directly owned 41,421 shares of the company’s stock, valued at $484,211.49. This represents a 67.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CLSK. Chardan Capital decreased their price objective on Cleanspark from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, February 6th. HC Wainwright cut their price target on Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Northland Securities assumed coverage on Cleanspark in a report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 price target for the company. Zacks Research upgraded shares of Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Needham & Company LLC cut their price objective on shares of Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 6th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

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.