Benzinga | Jan 21, 2021 11:54AM EST

Why Cleanspark's Stock Is Trading Lower Today

Cleanspark (NASDAQ:CLSK) shares are trading lower Thursday after a national securities litigation firm announced that a lawsuit for violation of the federal securities laws has been filed against the firm and its executives.

CleanSpark provides software and controls for microgrid and distributed energy resource management systems and design services. The company provides advanced energy software and control technology that allows energy users to obtain resiliency and economic optimization.

Its software is capable of enabling a microgrid to be scaled to the user's specific needs and can be widely implemented across commercial, industrial, military, agricultural and municipal deployment.

CleanSpark shares were trading down 11% at $25.11 at the time of publication. The stock has a 52-week high of $42.60 and a 52-week low of 97 cents.