Compass Financial Management LLC Makes New $1.83 Million Investment in Cleanspark, Inc. $CLSK

Key Points

• Compass Financial Management purchased 125,802 CleanSpark shares worth approximately $1.83 million, while institutional investors collectively own 43.12% of the company.
• CleanSpark reported a quarterly loss of $0.89 per share and revenue of $138.01 million, missing analyst estimates; revenue declined 30.5% year over year and the company posted a negative net margin.
• Despite weak results, analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $23.88 versus the stock’s recent $12.69 price.

Compass Financial Management LLC bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 125,802 shares of the company's stock, valued at approximately $1,830,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Cleanspark during the third quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new stake in Cleanspark in the third quarter worth approximately $32,000. Danske Bank A S purchased a new stake in Cleanspark in the fourth quarter worth approximately $25,000. CIBC Private Wealth Group LLC grew its position in Cleanspark by 5,081.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company's stock worth $44,000 after purchasing an additional 2,947 shares during the period. Finally, Parallel Advisors LLC grew its position in Cleanspark by 2,019.6% in the 3rd quarter. Parallel Advisors LLC now owns 3,900 shares of the company's stock worth $57,000 after purchasing an additional 3,716 shares during the period. Hedge funds and other institutional investors own 43.12% of the company's stock.

Cleanspark Stock Up 0.9%

CLSK opened at $12.69 on Friday. The firm's 50 day simple moving average is $12.98 and its two-hundred day simple moving average is $12.74. The company has a market capitalization of $3.26 billion, a PE ratio of -3.37 and a beta of 3.84. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The company has a current ratio of 5.91, a quick ratio of 2.11 and a debt-to-equity ratio of 2.34.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.42). The business had revenue of $138.01 million for the quarter, compared to the consensus estimate of $142.37 million. Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The company's revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. As a group, equities analysts forecast that Cleanspark, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CLSK shares. Citizens Jmp initiated coverage on Cleanspark in a report on Wednesday, June 24th. They set a "market outperform" rating and a $27.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Cleanspark from $16.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, July 28th. Weiss Ratings upgraded Cleanspark from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald reissued an "overweight" rating and issued a $26.00 target price on shares of Cleanspark in a report on Friday, August 7th. Finally, Needham & Company LLC raised their target price on Cleanspark from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. 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 issued a Sell rating to the company. Based on data from MarketBeat, Cleanspark currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.88.

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.

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