Cleanspark, Inc. $CLSK Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group cut its CleanSpark stake by 3.7% in the fourth quarter, selling 954,163 shares but still holding 25.1 million shares worth about $254 million, or roughly 9.81% of the company.
• Several other institutional investors made smaller moves in CLSK, while hedge funds and other institutions still own 43.12% of the stock overall.
• Analyst sentiment remains mixed but generally constructive: the consensus rating is Moderate Buy with an average price target of $20.29, even as some firms recently trimmed targets or downgraded the shares.

Vanguard Group Inc. lowered its stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,097,687 shares of the company's stock after selling 954,163 shares during the quarter. Vanguard Group Inc. owned about 9.81% of Cleanspark worth $253,989,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CLSK. Integrated Wealth Concepts LLC acquired a new position in Cleanspark in the first quarter valued at about $68,000. Caxton Associates LLP acquired a new position in Cleanspark in the first quarter valued at about $169,000. United Services Automobile Association acquired a new position in Cleanspark in the first quarter valued at about $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 buying an additional 86,229 shares during the last quarter. Finally, Strs Ohio acquired a new position in Cleanspark in the first quarter valued at about $38,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CLSK shares. Zacks Research raised shares of Cleanspark from a "strong sell" rating to a "hold" rating in a research report on Friday, February 20th. Northland Securities started coverage on shares of Cleanspark in a research report on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price target on the stock. B. Riley Financial reduced their price target on shares of Cleanspark from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, February 11th. Weiss Ratings cut shares of Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, February 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Cleanspark from $18.00 to $14.00 and set an "outperform" rating on the stock in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.29.

Cleanspark Stock Up 1.6%

CLSK stock opened at $14.20 on Friday. The company's 50 day moving average price is $10.49 and its 200 day moving average price is $12.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 10.54 and a current ratio of 10.54. Cleanspark, Inc. has a fifty-two week low of $8.00 and a fifty-two week high of $23.61. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of -13.27 and a beta of 3.71.

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.

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