AM Investment Strategies LLC Buys Shares of 53,400 Cleanspark, Inc. $CLSK

AM Investment Strategies LLC bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 53,400 shares of the company’s stock, valued at approximately $774,000.

Several other hedge funds have also made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in Cleanspark during the 3rd quarter valued at approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Cleanspark in the second quarter valued at $29,000. Fifth Third Bancorp lifted its stake in Cleanspark by 145.3% in the second quarter. Fifth Third Bancorp now owns 2,860 shares of the company’s stock valued at $32,000 after buying an additional 1,694 shares during the last quarter. Strs Ohio bought a new position in shares of Cleanspark during the first quarter worth about $38,000. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Cleanspark during the third quarter worth about $92,000. Institutional investors own 43.12% of the company’s stock.

Analysts Set New Price Targets

CLSK has been the subject of several recent analyst reports. HC Wainwright decreased their target price on shares of Cleanspark from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Sanford C. Bernstein increased their price objective on Cleanspark from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. B. Riley lowered their target price on Cleanspark from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Needham & Company LLC boosted their price target on Cleanspark from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. Finally, Chardan Capital reissued a “buy” rating and issued a $30.00 price target on shares of Cleanspark in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.06.

Cleanspark Price Performance

NASDAQ CLSK opened at $12.76 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.18 and a quick ratio of 4.18. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.50 and a beta of 3.47. The company has a 50 day simple moving average of $12.29 and a 200-day simple moving average of $13.04. Cleanspark, Inc. has a 52-week low of $6.45 and a 52-week high of $23.61.

Insider Activity at Cleanspark

In other news, Director Thomas Leigh Wood sold 85,315 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $11.69, for a total value of $997,332.35. Following the transaction, the director directly owned 41,421 shares of the company’s stock, valued at approximately $484,211.49. This represents a 67.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amanda Cavaleri sold 33,000 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $15.02, for a total value of $495,660.00. Following the sale, the director owned 107,289 shares of the company’s stock, valued at approximately $1,611,480.78. This represents a 23.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.65% of the stock is currently owned by corporate insiders.

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.