Thomas Leigh Wood Sells 85,315 Shares of Cleanspark (NASDAQ:CLSK) Stock

Cleanspark, Inc. (NASDAQ:CLSK) Director Thomas Leigh Wood sold 85,315 shares of Cleanspark stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total transaction of $997,332.35. Following the sale, the director directly owned 41,421 shares in the company, valued at $484,211.49. This trade represents a 67.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cleanspark Stock Performance

Shares of Cleanspark stock opened at $11.42 on Thursday. The company’s 50 day moving average price is $14.52 and its two-hundred day moving average price is $12.81. The firm has a market capitalization of $2.92 billion, a P/E ratio of 10.28 and a beta of 3.79. Cleanspark, Inc. has a fifty-two week low of $6.45 and a fifty-two week high of $23.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18.

Institutional Trading of Cleanspark

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in shares of Cleanspark by 115.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,748 shares of the company’s stock worth $25,000 after purchasing an additional 937 shares during the period. Quarry LP bought a new position in Cleanspark during the third quarter worth $26,000. Salomon & Ludwin LLC bought a new position in Cleanspark during the third quarter worth $32,000. Morse Asset Management Inc acquired a new position in Cleanspark in the third quarter valued at $32,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Cleanspark during the second quarter valued at $29,000. Institutional investors and hedge funds own 43.12% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised Cleanspark from a “neutral” rating to an “overweight” rating and set a $14.00 price target on the stock in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Cleanspark in a report on Monday. BTIG Research boosted their target price on shares of Cleanspark from $22.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Macquarie decreased their price target on shares of Cleanspark from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Finally, B. Riley dropped their price target on shares of Cleanspark from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.20.

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.