Fort Point Capital Partners LLC Sells 354,087 Shares of Cleanspark, Inc. $CLSK

Key Points

• Fort Point Capital Partners LLC sold 354,087 shares of Cleanspark in Q3, trimming its position by 24.2% to 1,109,052 shares (about 1.9% of the firm's portfolio and ~0.37% of Cleanspark, valued at $16.08M).
• Director Thomas Leigh Wood sold 85,315 shares on December 23 at an average price of $11.69 (≈$997,332), reducing his stake by ~67.3% to 41,421 shares.
• Research coverage remains largely positive—one Strong Buy, twelve Buy, one Hold and one Sell—producing an average consensus of "Moderate Buy" with an average target price of $20.60, though several firms recently cut their targets.

Fort Point Capital Partners LLC decreased its position in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 24.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,109,052 shares of the company's stock after selling 354,087 shares during the period. Cleanspark accounts for about 1.9% of Fort Point Capital Partners LLC's investment portfolio, making the stock its 13th biggest position. Fort Point Capital Partners LLC owned approximately 0.37% of Cleanspark worth $16,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CLSK. Integrated Wealth Concepts LLC bought a new stake in Cleanspark during the 1st quarter valued at $68,000. Caxton Associates LLP bought a new position in shares of Cleanspark during the 1st quarter worth $169,000. United Services Automobile Association purchased a new position in shares of Cleanspark during the first quarter valued at $125,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cleanspark by 16.8% during 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 period. Finally, Strs Ohio bought a new stake in shares of Cleanspark in the first quarter valued at about $38,000. Institutional investors own 43.12% of the company's stock.

Insider Buying and Selling at Cleanspark

In other news, Director Thomas Leigh Wood sold 85,315 shares of the firm's stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the sale, the director directly owned 41,421 shares in the company, valued at approximately $484,211.49. This trade represents a 67.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.08% of the company's stock.

Cleanspark Price Performance

CLSK opened at $9.76 on Monday. The firm has a market capitalization of $2.50 billion, a PE ratio of -9.12 and a beta of 3.51. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. The business's 50-day moving average is $11.01 and its two-hundred day moving average is $12.89. Cleanspark, Inc. has a 1 year low of $6.45 and a 1 year high of $23.61.

Analyst Ratings Changes

A number of research analysts have commented on CLSK shares. Keefe, Bruyette & Woods cut their target price 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. B. Riley Financial lowered their price target on shares of Cleanspark from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. HC Wainwright dropped their price objective on shares of Cleanspark from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, November 26th. Needham & Company LLC cut their price objective on shares of Cleanspark from $25.00 to $19.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Finally, Northland Securities started coverage on shares of Cleanspark in a research note on Tuesday, January 13th. They issued an "outperform" rating and a $22.50 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.60.

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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