Cleanspark (NASDAQ:CLSK) COO Sells $336,821.66 in Stock

Key Points

• CleanSpark COO Taylor Monnig sold 25,249 shares at an average price of $13.34, totaling $336,821.66. The sale reduced Monnig’s direct ownership by 9.66% to 236,114 shares.
• CLSK shares fell 1.5% to $13.28 during Wednesday trading. The company recently reported a larger-than-expected quarterly loss of $0.89 per share and revenue of $138.01 million, down 30.5% year over year.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $23.88, compared with its recent trading price near $13.28.

Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report) COO Taylor Monnig sold 25,249 shares of Cleanspark stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $13.34, for a total transaction of $336,821.66. Following the completion of the sale, the chief operating officer directly owned 236,114 shares of the company's stock, valued at approximately $3,149,760.76. This trade represents a 9.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Taylor Monnig also recently made the following trade(s):

• On Friday, September 4th, Taylor Monnig sold 4,513 shares of Cleanspark stock. The stock was sold at an average price of $12.61, for a total value of $56,908.93.
• On Friday, August 14th, Taylor Monnig sold 54 shares of Cleanspark stock. The stock was sold at an average price of $11.51, for a total value of $621.54.

Cleanspark Stock Down 1.5%

Shares of NASDAQ CLSK traded down $0.20 during midday trading on Wednesday, hitting $13.28. 14,053,004 shares of the stock traded hands, compared to its average volume of 18,057,584. The company has a debt-to-equity ratio of 2.34, a quick ratio of 2.11 and a current ratio of 5.91. Cleanspark, Inc. has a one year low of $8.00 and a one year high of $23.61. The business has a 50 day moving average price of $12.90 and a two-hundred day moving average price of $12.84. The company has a market cap of $3.41 billion, a PE ratio of -3.52 and a beta of 3.84.

Cleanspark (NASDAQ:CLSK - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.42). Cleanspark had a negative net margin of 146.90% and a negative return on equity of 18.63%. The business had revenue of $138.01 million during the quarter, compared to analyst estimates of $142.37 million. During the same period in the previous year, the business posted $0.90 EPS. The business's revenue for the quarter was down 30.5% compared to the same quarter last year. On average, equities analysts predict that Cleanspark, Inc. will post -1.4 EPS for the current year.

Analysts Set New Price Targets

CLSK has been the topic of several recent research reports. Maxim Group raised their price target 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. Zacks Research upgraded Cleanspark from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. HC Wainwright reaffirmed a "buy" rating on shares of Cleanspark in a research report on Friday, August 7th. BTIG Research reissued a "buy" rating and issued a $26.00 price target on shares of Cleanspark in a research report on Tuesday, July 14th. Finally, Citizens Jmp began coverage on shares of Cleanspark in a report on Wednesday, June 24th. They set a "market outperform" rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.88.

Institutional Trading of Cleanspark

A number of institutional investors and hedge funds have recently modified their holdings of the business. Markowski Investments bought a new position in Cleanspark in the 2nd quarter valued at $25,000. Quarry LP bought a new position in Cleanspark during the third quarter valued at about $26,000. Morse Asset Management Inc bought a new position in Cleanspark during the third quarter valued at about $32,000. Strs Ohio purchased a new stake in Cleanspark during the first quarter worth about $38,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Cleanspark by 5,081.0% during the third quarter. CIBC Private Wealth Group LLC now owns 3,005 shares of the company's stock worth $44,000 after buying an additional 2,947 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

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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