Leonteq Securities AG Takes $778,000 Position in Cleanspark, Inc. $CLSK

Leonteq Securities AG acquired a new stake in Cleanspark, Inc. (NASDAQ:CLSK) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 76,854 shares of the company’s stock, valued at approximately $778,000.

Several other hedge funds have also modified their holdings of the stock. X Square Capital LLC acquired a new stake in Cleanspark in the third quarter valued at $2,900,000. New York State Teachers Retirement System raised its stake in Cleanspark by 37.7% in the fourth quarter. New York State Teachers Retirement System now owns 341,749 shares of the company’s stock valued at $3,458,000 after buying an additional 93,649 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in Cleanspark in the fourth quarter valued at $2,019,000. Benchmark Financial LLC acquired a new stake in Cleanspark in the fourth quarter valued at $1,255,000. Finally, Tudor Investment Corp ET AL raised its stake in Cleanspark by 496.7% in 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 in the last quarter. 43.12% of the stock is currently owned by institutional investors and hedge funds.

Cleanspark Stock Up 1.3%

CLSK opened at $15.97 on Friday. The business’s 50-day simple moving average is $11.44 and its 200-day simple moving average is $11.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 8.26 and a current ratio of 8.26. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61. The stock has a market capitalization of $4.10 billion, a P/E ratio of -7.60 and a beta of 3.71.

Cleanspark (NASDAQ:CLSK) last posted its earnings results on Monday, May 11th. The company reported ($1.52) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $145.36 million. During the same quarter last year, the firm posted ($0.49) EPS. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. Analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Cleanspark from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. B. Riley Financial cut their price target on Cleanspark from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. Cantor Fitzgerald cut their price target on Cleanspark from $17.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Needham & Company LLC lifted their target price on Cleanspark from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, BTIG Research reiterated a “buy” rating and set a $26.00 target price on shares of Cleanspark in a research report on Tuesday, May 12th. One 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 company’s stock. Based on data from MarketBeat.com, Cleanspark presently has an average rating of “Moderate Buy” and an average price target of $20.44.

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.