Cleanspark (NASDAQ:CLSK) Director Thomas Leigh Wood Sells 85,315 Shares

Cleanspark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood sold 85,315 shares of Cleanspark stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director directly owned 41,421 shares in the company, valued at approximately $484,211.49. The trade was a 67.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Cleanspark Price Performance

Shares of NASDAQ:CLSK traded down $0.59 during trading hours on Tuesday, hitting $11.51. 19,118,580 shares of the company’s stock traded hands, compared to its average volume of 33,854,788. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $23.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.18 and a current ratio of 4.18. The company’s fifty day simple moving average is $14.76 and its two-hundred day simple moving average is $12.82. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 10.37 and a beta of 3.79.

Institutional Investors Weigh In On Cleanspark

Hedge funds and other institutional investors have recently modified their holdings of the stock. Voloridge Investment Management LLC acquired a new stake in Cleanspark in the 3rd quarter worth $56,056,000. Dimensional Fund Advisors LP boosted 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 purchasing an additional 1,564,761 shares in the last quarter. Tudor Investment Corp ET AL boosted 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 purchasing an additional 1,441,939 shares in the last quarter. Azora Capital LP bought a new position in shares of Cleanspark during the 3rd quarter worth approximately $15,300,000. Finally, Invesco Ltd. grew its position in Cleanspark by 22.1% in the third quarter. Invesco Ltd. now owns 4,482,527 shares of the company’s stock valued at $64,997,000 after acquiring an additional 810,203 shares during the period. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CLSK shares. Sanford C. Bernstein increased their price objective on Cleanspark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cleanspark in a research report on Monday. BTIG Research increased their price target on Cleanspark from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Wall Street Zen cut Cleanspark from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, HC Wainwright cut their price objective on Cleanspark from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.20.

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.