Sanctuary Advisors LLC Sells 93,647 Shares of Cleanspark, Inc. $CLSK

Key Points

• Sanctuary Advisors LLC cut its Cleanspark position by 66.1% in the fourth quarter, selling 93,647 shares and leaving it with 48,056 shares valued at about $486,000.
• Other institutional investors also made mixed moves in CLSK, and overall 43.12% of the stock is owned by institutions.
• Wall Street sentiment remains somewhat positive despite mixed opinions: Cleanspark has an average rating of “Moderate Buy” and a consensus price target of $20.29, while the shares recently traded at $14.20.

Sanctuary Advisors LLC lowered its holdings in Cleanspark, Inc. (NASDAQ:CLSK - Free Report) by 66.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,056 shares of the company's stock after selling 93,647 shares during the quarter. Sanctuary Advisors LLC's holdings in Cleanspark were worth $486,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in Cleanspark by 115.5% during the third quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company's stock worth $25,000 after buying an additional 937 shares during the last quarter. Quarry LP bought a new stake in Cleanspark during the third quarter worth about $26,000. Morse Asset Management Inc bought a new stake in Cleanspark during the third quarter worth about $32,000. Strs Ohio bought a new stake in Cleanspark during the first quarter worth about $38,000. Finally, Smartleaf Asset Management LLC grew its stake in Cleanspark by 38.9% during the third quarter. Smartleaf Asset Management LLC now owns 2,660 shares of the company's stock worth $40,000 after buying an additional 745 shares during the last quarter. 43.12% of the stock is owned by institutional investors.

Cleanspark Price Performance

CLSK opened at $14.20 on Friday. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61. 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 company's 50 day simple moving average is $10.49 and its 200-day simple moving average is $12.03. The stock has a market capitalization of $3.63 billion, a P/E ratio of -13.27 and a beta of 3.71.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CLSK shares. Weiss Ratings cut shares of Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, February 9th. Cantor Fitzgerald decreased their price objective on shares of Cleanspark from $17.00 to $14.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Needham & Company LLC upped their price objective on shares of Cleanspark from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. B. Riley Financial decreased their price objective on shares of Cleanspark from $22.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. Finally, Northland Securities initiated coverage on shares of Cleanspark in a research note on Tuesday, January 13th. They set an "outperform" rating and a $22.50 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $20.29.

About Cleanspark

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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