Himension Capital Singapore PTE. LTD. Invests $1.02 Million in Cleanspark, Inc. $CLSK

Key Points

• Himension Capital Singapore PTE. LTD. opened a new position in CleanSpark during the first quarter, buying 119,576 shares worth about $1.02 million.
• CleanSpark shares were up 6.7% in trading, with the stock opening at $15.38 and carrying a market cap of about $3.95 billion.
• The company recently reported a wider-than-expected loss for the quarter, with EPS of -$1.52 versus estimates of -$0.25, while analysts currently rate the stock a Moderate Buy with a consensus price target of $22.34.

Himension Capital Singapore PTE. LTD. bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 119,576 shares of the company's stock, valued at approximately $1,018,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV raised its holdings in Cleanspark by 10.7% in the 1st quarter. KBC Group NV now owns 8,574 shares of the company's stock valued at $73,000 after acquiring an additional 828 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Cleanspark by 4.9% during the second quarter. Cresset Asset Management LLC now owns 26,924 shares of the company's stock worth $297,000 after acquiring an additional 1,248 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Cleanspark by 11.0% during the third quarter. CreativeOne Wealth LLC now owns 16,893 shares of the company's stock worth $245,000 after acquiring an additional 1,680 shares during the period. Franklin Resources Inc. grew its position in shares of Cleanspark by 1.5% in the third quarter. Franklin Resources Inc. now owns 117,823 shares of the company's stock valued at $1,708,000 after purchasing an additional 1,727 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Cleanspark in the third quarter valued at approximately $26,000. Institutional investors own 43.12% of the company's stock.

Cleanspark Trading Up 6.7%

Shares of CLSK stock opened at $15.38 on Wednesday. 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 market cap of $3.95 billion, a P/E ratio of -7.32 and a beta of 3.83. The stock has a 50 day simple moving average of $15.34 and a 200 day simple moving average of $12.51. Cleanspark, Inc. has a 1 year low of $8.00 and a 1 year high of $23.61.

Cleanspark (NASDAQ:CLSK - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($1.27). Cleanspark had a positive return on equity of 7.07% and a negative net margin of 67.66%.The company had revenue of $136.41 million for the quarter, compared to analyst estimates of $145.35 million. During the same period in the prior year, the company earned ($0.49) EPS. The company's quarterly revenue was down 24.9% compared to the same quarter last year. On average, research analysts predict that Cleanspark, Inc. will post -1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on CLSK shares. Zacks Research raised Cleanspark from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Weiss Ratings lowered Cleanspark from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, May 22nd. Chardan Capital reiterated a "buy" rating and set a $19.00 price objective on shares of Cleanspark in a research report on Wednesday, July 15th. Citigroup assumed coverage on Cleanspark in a report on Wednesday, June 24th. They set an "outperform" rating for the company. Finally, Maxim Group boosted their target price on shares of Cleanspark from $18.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.34.

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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