Situational Awareness LP Takes $16.60 Million Position in Cleanspark, Inc. $CLSK

Situational Awareness LP purchased a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,640,400 shares of the company’s stock, valued at approximately $16,601,000. Cleanspark makes up about 0.3% of Situational Awareness LP’s portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of CLSK. Voloridge Investment Management LLC purchased a new position in Cleanspark during the third quarter valued at approximately $56,056,000. UBS Group AG increased its holdings in Cleanspark by 81.1% during the fourth quarter. UBS Group AG now owns 3,579,166 shares of the company’s stock valued at $36,221,000 after buying an additional 1,602,830 shares during the period. Dimensional Fund Advisors LP increased its holdings in Cleanspark by 57.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,311,221 shares of the company’s stock valued at $62,521,000 after buying an additional 1,564,761 shares during the period. Tudor Investment Corp ET AL increased its holdings in Cleanspark by 496.7% during the third quarter. Tudor Investment Corp ET AL now owns 1,732,268 shares of the company’s stock valued at $25,118,000 after buying an additional 1,441,939 shares during the period. Finally, Azora Capital LP purchased a new position in Cleanspark during the third quarter valued at approximately $15,300,000. Institutional investors own 43.12% of the company’s stock.

Cleanspark Price Performance

NASDAQ CLSK opened at $15.59 on Friday. The firm’s fifty day simple moving average is $12.96 and its two-hundred day simple moving average is $11.93. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. Cleanspark, Inc. has a 12-month low of $8.00 and a 12-month high of $23.61. The firm has a market capitalization of $4.00 billion, a P/E ratio of -7.42 and a beta of 3.79.

Cleanspark (NASDAQ:CLSK) last released its quarterly 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 positive return on equity of 7.07% and a negative net margin of 67.66%.The firm had revenue of $136.41 million during the quarter, compared to analysts’ expectations of $145.36 million. During the same period in the prior year, the firm posted ($0.49) earnings per share. Cleanspark’s revenue for the quarter was down 24.9% compared to the same quarter last year. Analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLSK has been the topic of several research reports. Zacks Research lowered shares of Cleanspark from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Cantor Fitzgerald cut their price objective on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Maxim Group lifted their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, BTIG Research reissued a “buy” rating and set a $26.00 price objective on shares of Cleanspark in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cleanspark currently has a consensus rating of “Moderate Buy” and an average price target 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.