Cleanspark (NASDAQ:CLSK) COO Taylor Monnig Sells 4,513 Shares of Stock

Key Points

• CleanSpark COO Taylor Monnig sold 4,513 shares at an average price of $12.61, generating $56,908.93. After the sale, Monnig retained 258,969 shares, representing a 1.71% reduction in ownership.
• CleanSpark’s stock traded at $13.28, with a market capitalization of approximately $3.41 billion. The company recently reported a quarterly loss of $0.89 per share and revenue of $138.01 million, missing analyst expectations.
• Analysts maintain a generally positive view, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $23.88, well above its current price.

Cleanspark, Inc. (NASDAQ:CLSK - Get Free Report) COO Taylor Monnig sold 4,513 shares of Cleanspark stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $12.61, for a total value of $56,908.93. Following the transaction, the chief operating officer owned 258,969 shares of the company's stock, valued at approximately $3,265,599.09. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Tuesday, September 8th, Taylor Monnig sold 25,249 shares of Cleanspark stock. The stock was sold at an average price of $13.34, for a total value of $336,821.66.
• 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 transaction of $621.54.

Cleanspark Stock Performance

Shares of NASDAQ:CLSK traded down $0.20 during 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 quick ratio of 2.11, a current ratio of 5.91 and a debt-to-equity ratio of 2.34. The company has a fifty day moving average price of $12.90 and a two-hundred day moving average price of $12.84. Cleanspark, Inc. has a 52-week low of $8.00 and a 52-week high of $23.61. The company has a market cap of $3.41 billion, a price-to-earnings ratio of -3.52 and a beta of 3.84.

Cleanspark (NASDAQ:CLSK - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $138.01 million during the quarter, compared to analysts' expectations of $142.37 million. During the same period in the previous year, the firm posted $0.90 EPS. The firm's quarterly revenue was down 30.5% on a year-over-year basis. As a group, 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 a number of recent analyst reports. Needham & Company LLC increased their price target on Cleanspark from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. BTIG Research reiterated a "buy" rating and set a $26.00 target price on shares of Cleanspark in a research report on Tuesday, July 14th. Citigroup started coverage on shares of Cleanspark in a report on Wednesday, June 24th. They issued an "outperform" rating for the company. Maxim Group increased their price objective on shares of Cleanspark from $18.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Finally, Chardan Capital reiterated a "buy" rating and set a $21.00 price objective on shares of Cleanspark in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $23.88.

Hedge Funds Weigh In On Cleanspark

Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. purchased a new position in shares of Cleanspark during the 2nd quarter worth $5,521,000. Situational Awareness LP raised its stake in Cleanspark by 648.4% during the first quarter. Situational Awareness LP now owns 12,276,139 shares of the company's stock worth $104,470,000 after purchasing an additional 10,635,739 shares during the period. Bank of America Corp DE grew its stake in shares of Cleanspark by 49.2% in the 1st quarter. Bank of America Corp DE now owns 2,576,687 shares of the company's stock valued at $21,928,000 after buying an additional 849,865 shares during the period. Intrinsic Edge Capital Management LLC increased its holdings in shares of Cleanspark by 617.3% during the 1st quarter. Intrinsic Edge Capital Management LLC now owns 894,735 shares of the company's stock worth $7,614,000 after buying an additional 770,000 shares during the last quarter. Finally, Virtu Financial LLC raised its position in shares of Cleanspark by 59.8% during the 4th quarter. Virtu Financial LLC now owns 175,903 shares of the company's stock valued at $1,780,000 after buying an additional 65,857 shares during the period. 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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