Aurelius Capital Management LP Invests $3.01 Million in Cleanspark, Inc. $CLSK

Key Points

• Aurelius Capital Management bought 207,390 shares of Cleanspark (CLSK) in Q3 — about $3.01 million — making the stock roughly 5.4% of the fund's portfolio and its 7th-largest holding (Aurelius owns ~0.07% of Cleanspark).
• Analysts show a mixed view but a consensus of a “Moderate Buy” rating with an average target price of $20.60, despite several recent price-target cuts and varied buy/outperform/sell opinions.
• Director Thomas Leigh Wood sold 85,315 shares (~$997K), reducing his position by 67.3%; insiders now own 2.08% of the stock while institutional investors hold about 43.12%.

Aurelius Capital Management LP acquired a new stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 207,390 shares of the company's stock, valued at approximately $3,007,000. Cleanspark makes up approximately 5.4% of Aurelius Capital Management LP's investment portfolio, making the stock its 7th largest holding. Aurelius Capital Management LP owned approximately 0.07% of Cleanspark as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. grew its stake in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company's stock worth $25,000 after buying an additional 937 shares during the period. Salomon & Ludwin LLC acquired a new position in shares of Cleanspark during the 3rd quarter valued at $32,000. Strs Ohio acquired a new position in shares of Cleanspark during the 1st quarter valued at $38,000. Smartleaf Asset Management LLC boosted its position in Cleanspark by 38.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company's stock worth $40,000 after purchasing an additional 745 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Cleanspark by 2,019.6% in the 3rd quarter. Parallel Advisors LLC now owns 3,900 shares of the company's stock valued at $57,000 after purchasing an additional 3,716 shares in the last quarter. Hedge funds and other institutional investors own 43.12% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on CLSK. Weiss Ratings lowered Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, February 9th. Maxim Group initiated coverage on Cleanspark in a research note on Thursday, January 8th. They issued a "buy" rating and a $22.00 target price for the company. Needham & Company LLC dropped their target price on Cleanspark from $25.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Macquarie Infrastructure reduced their price target on Cleanspark from $30.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 26th. Finally, Keefe, Bruyette & Woods decreased their price target on Cleanspark from $18.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.60.

Insiders Place Their Bets

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the firm's stock in a transaction 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 at the SEC website. 2.08% of the stock is currently owned by corporate insiders.

Cleanspark Stock Down 2.8%

CLSK stock opened at $9.54 on Friday. The company has a current ratio of 10.54, a quick ratio of 10.54 and a debt-to-equity ratio of 1.29. The firm has a 50 day simple moving average of $11.05 and a 200-day simple moving average of $12.84. The company has a market capitalization of $2.44 billion, a P/E ratio of -8.91 and a beta of 3.51. Cleanspark, Inc. has a twelve month low of $6.45 and a twelve month high of $23.61.

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.

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