Odyssean LLC Buys Shares of 60,349 Cleanspark, Inc. $CLSK

Odyssean LLC purchased a new stake in Cleanspark, Inc. (NASDAQ:CLSK) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 60,349 shares of the company’s stock, valued at approximately $878,000.

Several other hedge funds have also recently modified their holdings of the business. FirstWave Capital Management LLC bought a new position in shares of Cleanspark during the second quarter valued at approximately $1,086,000. Nykredit A S bought a new position in Cleanspark in the second quarter worth approximately $83,000. Headlands Technologies LLC raised its stake in Cleanspark by 214.8% in the second quarter. Headlands Technologies LLC now owns 512,476 shares of the company’s stock worth $7,457,000 after buying an additional 349,658 shares in the last quarter. Compass Financial Management LLC purchased a new stake in Cleanspark during the second quarter worth $1,830,000. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Cleanspark during the second quarter worth $374,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the topic of several recent research reports. Zacks Research raised Cleanspark from a “strong sell” rating to a “hold” rating in a research report on Friday, July 10th. Citizens Jmp started coverage on Cleanspark in a research report on Wednesday, June 24th. They issued a “market outperform” rating and a $27.00 price target for the company. B. Riley Financial raised their price objective on Cleanspark from $19.00 to $26.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and issued a $26.00 target price on shares of Cleanspark in a research note on Tuesday, July 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $26.00 target price on shares of Cleanspark in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Cleanspark has a consensus rating of “Moderate Buy” and a consensus price target of $23.88.

Cleanspark Price Performance

Shares of CLSK opened at $12.69 on Friday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -3.37 and a beta of 3.84. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61. The company has a quick ratio of 2.11, a current ratio of 5.91 and a debt-to-equity ratio of 2.34. The company has a 50 day moving average of $12.98 and a two-hundred day moving average of $12.74.

Cleanspark (NASDAQ:CLSK) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). The firm had revenue of $138.01 million during the quarter, compared to analysts’ expectations of $142.37 million. Cleanspark had a negative return on equity of 18.63% and a negative net margin of 146.90%.Cleanspark’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, analysts predict that Cleanspark, Inc. will post -1.4 earnings per share for the current fiscal year.

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.