Dimensional Fund Advisors LP Buys 6,323,715 Shares of Cleanspark, Inc. $CLSK

Key Points

• Dimensional Fund Advisors increased its CleanSpark stake by 81.3%, buying 6.32 million additional shares to own 14.10 million shares, or 5.51% of the company valued at approximately $120 million.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $22.50; Cantor Fitzgerald recently raised its target to $26.
• CleanSpark shares opened at $14.02, down 3.4%, while the company’s latest quarterly results missed expectations: EPS was a loss of $1.52 versus the projected loss of $0.25, and revenue fell 24.9% year over year to $136.41 million.

Dimensional Fund Advisors LP increased its stake in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 81.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,102,777 shares of the company's stock after purchasing an additional 6,323,715 shares during the quarter. Dimensional Fund Advisors LP owned 5.51% of Cleanspark worth $120,007,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLSK. Integrated Wealth Concepts LLC purchased a new stake in Cleanspark in the 1st quarter worth approximately $68,000. Caxton Associates LLP purchased a new position in shares of Cleanspark in the first quarter valued at $169,000. United Services Automobile Association bought a new stake in Cleanspark in the first quarter worth $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 worth $4,025,000 after purchasing an additional 86,229 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Cleanspark during the first quarter valued at $38,000. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CLSK shares. HC Wainwright reiterated a "buy" rating on shares of Cleanspark in a research report on Tuesday, July 14th. Cantor Fitzgerald boosted their target price on shares of Cleanspark from $17.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, July 15th. Chardan Capital restated a "buy" rating and set a $19.00 target price on shares of Cleanspark in a research report on Wednesday, July 15th. Weiss Ratings downgraded shares of Cleanspark from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, May 22nd. Finally, Zacks Research upgraded Cleanspark from a "strong sell" rating to a "hold" rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cleanspark currently has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Cleanspark Stock Down 3.4%

NASDAQ:CLSK opened at $14.02 on Tuesday. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -6.68 and a beta of 3.83. Cleanspark, Inc. has a twelve month low of $8.00 and a twelve month high of $23.61. The company has a current ratio of 8.26, a quick ratio of 8.26 and a debt-to-equity ratio of 1.81. The stock has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $12.60.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly 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). The company had revenue of $136.41 million during the quarter, compared to the consensus estimate of $145.35 million. Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The company's revenue for the quarter was down 24.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.49) earnings per share. Analysts anticipate that Cleanspark, Inc. will post -1.19 EPS for the current year.

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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