State of New Jersey Common Pension Fund D Takes $2.02 Million Position in Cleanspark, Inc. $CLSK

Key Points

• State of New Jersey Common Pension Fund D disclosed a new fourth-quarter stake in CleanSpark, buying 199,524 shares worth about $2.02 million, or roughly 0.08% of the company.
• Other institutional investors also added to positions in CLSK, and 43.12% of the stock is now held by hedge funds and other institutions.
• Analysts remain mostly positive on CleanSpark: the stock has a Moderate Buy consensus with an average price target of $20.29, while shares recently opened at $14.20.

State of New Jersey Common Pension Fund D acquired a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 199,524 shares of the company's stock, valued at approximately $2,019,000. State of New Jersey Common Pension Fund D owned about 0.08% of Cleanspark as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLSK. Wealthfront Advisers LLC purchased a new stake in shares of Cleanspark during the fourth quarter worth about $192,000. Torren Management LLC acquired a new stake in Cleanspark during the fourth quarter worth approximately $48,000. Pictet Asset Management Holding SA grew its stake in Cleanspark by 103.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 94,597 shares of the company's stock worth $957,000 after acquiring an additional 48,193 shares during the period. UBS Group AG grew its stake in Cleanspark by 81.1% in the 4th quarter. UBS Group AG now owns 3,579,166 shares of the company's stock worth $36,221,000 after acquiring an additional 1,602,830 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in Cleanspark by 17.8% in the 4th quarter. Concurrent Investment Advisors LLC now owns 12,290 shares of the company's stock valued at $124,000 after acquiring an additional 1,860 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CLSK. Needham & Company LLC lifted their price target on Cleanspark from $17.00 to $18.00 and gave the company a "buy" rating in a report on Monday, May 4th. Weiss Ratings lowered shares of Cleanspark from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, February 9th. Keefe, Bruyette & Woods cut their price target on shares of Cleanspark from $18.00 to $14.00 and set an "outperform" rating on the stock in a research note on Monday, February 9th. B. Riley Financial cut their target price on Cleanspark from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, February 11th. Finally, Northland Securities initiated coverage on Cleanspark in a report on Tuesday, January 13th. They issued 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 assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Cleanspark presently has an average rating of "Moderate Buy" and an average price target of $20.29.

Cleanspark Price Performance

Shares of NASDAQ CLSK opened at $14.20 on Monday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -13.27 and a beta of 3.71. The company has a debt-to-equity ratio of 1.29, a current ratio of 10.54 and a quick ratio of 10.54. Cleanspark, Inc. has a 1-year low of $8.00 and a 1-year high of $23.61. The business has a 50-day moving average of $10.49 and a 200-day moving average of $12.03.

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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