1,055,201 Shares in Cleanspark, Inc. $CLSK Bought by Azora Capital LP

Azora Capital LP bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,055,201 shares of the company’s stock, valued at approximately $15,300,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Cleanspark by 176.8% in the third quarter. Bank of America Corp DE now owns 887,241 shares of the company’s stock worth $12,865,000 after acquiring an additional 566,739 shares in the last quarter. Algert Global LLC raised its position in shares of Cleanspark by 17.1% during the third quarter. Algert Global LLC now owns 277,459 shares of the company’s stock worth $4,023,000 after purchasing an additional 40,466 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Cleanspark during the 3rd quarter valued at about $615,000. Creative Planning lifted its holdings in shares of Cleanspark by 13.7% during the 3rd quarter. Creative Planning now owns 129,681 shares of the company’s stock valued at $1,880,000 after purchasing an additional 15,625 shares in the last quarter. Finally, SummitTX Capital L.P. acquired a new position in shares of Cleanspark in the 3rd quarter valued at approximately $801,000. 43.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas Leigh Wood sold 85,315 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 41,421 shares of the company’s stock, valued at $484,211.49. This trade represents a 67.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CLSK has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Cleanspark from $25.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Keefe, Bruyette & Woods cut their price target on shares of Cleanspark from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Weiss Ratings cut shares of Cleanspark from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, February 9th. Northland Securities initiated coverage on shares of Cleanspark in a research report on Tuesday, January 13th. They set an “outperform” rating and a $22.50 price objective for the company. Finally, Macquarie Infrastructure cut their price objective on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Cleanspark Stock Up 2.2%

Shares of Cleanspark stock opened at $9.76 on Friday. The business’s 50 day simple moving average is $11.01 and its 200 day simple moving average is $12.86. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $23.61. The firm has a market cap of $2.50 billion, a PE ratio of -9.12 and a beta of 3.51. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54.

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.