Washburn Capital Management Inc. Takes $529,000 Position in Cleanspark, Inc. $CLSK

Washburn Capital Management Inc. bought a new stake in Cleanspark, Inc. (NASDAQ:CLSK) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 52,305 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CLSK. Voloridge Investment Management LLC bought a new stake in shares of Cleanspark in the 3rd quarter valued at about $56,056,000. Dimensional Fund Advisors LP lifted its stake in shares of Cleanspark by 57.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after acquiring an additional 1,564,761 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in shares of Cleanspark by 496.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after acquiring an additional 1,441,939 shares during the last quarter. Azora Capital LP bought a new stake in shares of Cleanspark in the 3rd quarter valued at about $15,300,000. Finally, SG Americas Securities LLC lifted its stake in shares of Cleanspark by 739.7% in the 4th quarter. SG Americas Securities LLC now owns 1,128,257 shares of the company’s stock valued at $11,418,000 after acquiring an additional 993,900 shares during the last quarter. Institutional investors own 43.12% of the company’s stock.

Cleanspark Stock Performance

Cleanspark stock opened at $9.88 on Thursday. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.53 billion, a P/E ratio of -9.23 and a beta of 3.53. The stock’s 50 day moving average is $9.79 and its 200 day moving average is $12.74. Cleanspark, Inc. has a twelve month low of $6.56 and a twelve month high of $23.61.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CLSK shares. Weiss Ratings lowered Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, February 9th. B. Riley Financial lowered their price target on Cleanspark from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Needham & Company LLC lowered their price target on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Keefe, Bruyette & Woods lowered their price target on Cleanspark from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. Finally, Zacks Research upgraded Cleanspark from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Cleanspark presently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

About Cleanspark

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.