Alight Capital Management LP Acquires Shares of 350,000 Cleanspark, Inc. $CLSK

Alight Capital Management LP acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 4th quarter, Holdings Channel reports. The firm acquired 350,000 shares of the company’s stock, valued at approximately $3,542,000.

Several other institutional investors have also bought and sold shares of CLSK. Integrated Wealth Concepts LLC bought a new position in Cleanspark during the first quarter valued at $68,000. Caxton Associates LLP bought a new position in Cleanspark during the first quarter valued at $169,000. United Services Automobile Association bought a new position in Cleanspark during the first quarter valued at $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Cleanspark by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 598,994 shares of the company’s stock valued at $4,025,000 after acquiring an additional 86,229 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Cleanspark in the first quarter valued at $38,000. Institutional investors own 43.12% of the company’s stock.

Cleanspark Trading Down 2.8%

NASDAQ CLSK opened at $16.78 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of -7.99 and a beta of 3.79. The company’s 50-day simple moving average is $14.18 and its two-hundred day simple moving average is $12.22. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($1.27). Cleanspark had a negative net margin of 67.66% and a positive return on equity of 7.07%. The firm had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.36 million. During the same quarter in the prior year, the business posted ($0.49) earnings per share. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. Equities analysts forecast that Cleanspark, Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CLSK shares. Chardan Capital increased their target price on shares of Cleanspark from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Keefe, Bruyette & Woods increased their target price on shares of Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reduced their target price on shares of Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Finally, BTIG Research reissued a “buy” rating and issued a $26.00 target price on shares of Cleanspark in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.67.

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.