Arizona State Retirement System Increases Position in CleanSpark, Inc. (NASDAQ:CLSK)

Arizona State Retirement System boosted its holdings in shares of CleanSpark, Inc. (NASDAQ:CLSK) by 40.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,671 shares of the company’s stock after acquiring an additional 12,190 shares during the period. Arizona State Retirement System’s holdings in CleanSpark were worth $471,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its stake in CleanSpark by 60.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,717 shares of the company’s stock valued at $25,000 after acquiring an additional 2,150 shares in the last quarter. Barclays PLC grew its stake in shares of CleanSpark by 533.2% in the 4th quarter. Barclays PLC now owns 12,253 shares of the company’s stock valued at $25,000 after buying an additional 10,318 shares during the period. State of Wyoming purchased a new stake in shares of CleanSpark in the 2nd quarter valued at approximately $27,000. Lazard Asset Management LLC grew its stake in shares of CleanSpark by 3,177.3% in the 3rd quarter. Lazard Asset Management LLC now owns 7,931 shares of the company’s stock valued at $29,000 after buying an additional 7,689 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of CleanSpark in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insiders Place Their Bets

In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other CleanSpark news, Chairman S. Matthew Schultz sold 367,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $23.07, for a total transaction of $8,466,690.00. Following the sale, the chairman now directly owns 2,298,975 shares in the company, valued at approximately $53,037,353.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Zachary Bradford sold 443,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $20.31, for a total transaction of $8,997,330.00. Following the sale, the chief executive officer now owns 2,795,863 shares in the company, valued at $56,783,977.53. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,620 shares of company stock worth $24,963,509 in the last ninety days. 3.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald increased their price target on shares of CleanSpark from $10.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Monday, April 15th. TheStreet raised shares of CleanSpark from a “d” rating to a “c-” rating in a research note on Friday, February 9th. BTIG Research increased their price target on shares of CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CleanSpark from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.22.

CleanSpark Stock Performance

Shares of CLSK stock opened at $17.20 on Friday. The firm’s 50 day moving average price is $17.52 and its 200-day moving average price is $10.75. CleanSpark, Inc. has a one year low of $3.33 and a one year high of $24.72.

CleanSpark (NASDAQ:CLSK) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.26. The firm had revenue of $73.79 million for the quarter, compared to analyst estimates of $66.06 million. CleanSpark had a negative net margin of 38.09% and a negative return on equity of 16.25%. On average, research analysts forecast that CleanSpark, Inc. will post -0.3 earnings per share for the current year.

CleanSpark Profile

CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.