Magnetar Financial LLC Has $6.16 Million Position in Cleanspark, Inc. $CLSK

Key Points

• Magnetar Financial LLC boosted its stake in Cleanspark by 619.6% in Q3, acquiring 365,762 shares to own 424,795 shares worth about $6.16 million (0.14% of the company).
• Cleanspark has a consensus analyst rating of "Moderate Buy" with a consensus target price of $20.60, amid mixed analyst actions including new buy/outperform coverage and some target reductions.
• Director Thomas Leigh Wood sold 85,315 shares in December (reducing his position by 67.32%); insiders own 2.08% of the stock while institutional investors hold about 43.12%.

Magnetar Financial LLC boosted its holdings in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 619.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 424,795 shares of the company's stock after acquiring an additional 365,762 shares during the quarter. Magnetar Financial LLC owned 0.14% of Cleanspark worth $6,160,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CLSK. Baird Financial Group Inc. grew its position in Cleanspark by 191.6% in the second quarter. Baird Financial Group Inc. now owns 320,043 shares of the company's stock valued at $3,530,000 after acquiring an additional 210,307 shares during the period. X Square Capital LLC bought a new position in shares of Cleanspark during the third quarter valued at $2,900,000. Voya Investment Management LLC lifted its holdings in shares of Cleanspark by 119.6% during the third quarter. Voya Investment Management LLC now owns 331,208 shares of the company's stock valued at $4,803,000 after acquiring an additional 180,371 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Cleanspark by 35.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,417,107 shares of the company's stock valued at $20,548,000 after purchasing an additional 373,259 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Cleanspark in the 2nd quarter worth about $6,616,000. Institutional investors and hedge funds own 43.12% of the company's stock.

Analysts Set New Price Targets

CLSK has been the subject of a number of recent analyst reports. Maxim Group began coverage on shares of Cleanspark in a research report on Thursday, January 8th. They set a "buy" rating and a $22.00 target price for the company. Wall Street Zen lowered shares of Cleanspark from a "hold" rating to a "sell" rating in a research report on Friday, November 28th. Northland Securities assumed coverage on shares of Cleanspark in a report on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price objective for the company. Zacks Research upgraded shares of Cleanspark from a "strong sell" rating to a "hold" rating in a research note on Friday, February 20th. Finally, B. Riley Financial reduced their target price on Cleanspark from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.60.

Insiders Place Their Bets

In other Cleanspark news, Director Thomas Leigh Wood sold 85,315 shares of the company's stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $11.69, for a total transaction of $997,332.35. Following the transaction, the director owned 41,421 shares of the company's stock, valued at approximately $484,211.49. This represents a 67.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.08% of the stock is owned by company insiders.

Cleanspark Stock Performance

Cleanspark stock opened at $9.63 on Wednesday. The stock has a 50-day simple moving average of $11.07 and a 200 day simple moving average of $12.88. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -9.00 and a beta of 3.51. The company has a quick ratio of 10.54, a current ratio of 10.54 and a debt-to-equity ratio of 1.29. Cleanspark, Inc. has a 12-month low of $6.45 and a 12-month high of $23.61.

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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