Himension Capital Singapore PTE. LTD. Makes New Investment in Cleanspark, Inc. $CLSK

Himension Capital Singapore PTE. LTD. bought a new stake in Cleanspark, Inc. (NASDAQ:CLSK) during the 1st quarter, HoldingsChannel reports. The fund bought 119,576 shares of the company’s stock, valued at approximately $1,018,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLSK. Integrated Wealth Concepts LLC bought a new stake in shares of Cleanspark during the 1st quarter worth approximately $68,000. Caxton Associates LLP bought a new position in Cleanspark in the first quarter valued at approximately $169,000. United Services Automobile Association bought a new position in Cleanspark in the first quarter valued at approximately $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Cleanspark by 16.8% during 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 purchasing an additional 86,229 shares in the last quarter. Finally, Strs Ohio acquired a new position in Cleanspark during the first quarter valued at approximately $38,000. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Stock Performance

Shares of Cleanspark stock opened at $15.38 on Wednesday. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 8.26 and a quick ratio of 8.26. The firm has a market capitalization of $3.95 billion, a P/E ratio of -7.32 and a beta of 3.83. The company’s 50 day moving average price is $15.34 and its two-hundred day moving average price is $12.51.

Cleanspark (NASDAQ:CLSK) last announced 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 company had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. During the same quarter last year, the company posted ($0.49) earnings per share. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. On average, equities analysts forecast that Cleanspark, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLSK has been the topic of a number of research analyst reports. Maxim Group raised their target price on Cleanspark from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Chardan Capital restated a “buy” rating and set a $19.00 price objective on shares of Cleanspark in a research report on Wednesday, July 15th. Cantor Fitzgerald lifted their target price on Cleanspark from $17.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Citizens Jmp began coverage on Cleanspark in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 target price on the stock. Finally, Weiss Ratings downgraded Cleanspark from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.34.

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.