Principal Financial Group Inc. Increases Holdings in CleanSpark, Inc. (NASDAQ:CLSK)

Principal Financial Group Inc. increased its position in CleanSpark, Inc. (NASDAQ:CLSKFree Report) by 20.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,511 shares of the company’s stock after purchasing an additional 3,810 shares during the period. Principal Financial Group Inc.’s holdings in CleanSpark were worth $477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of CleanSpark by 62.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,433,586 shares of the company’s stock valued at $93,032,000 after purchasing an additional 3,235,171 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of CleanSpark by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 8,048,511 shares of the company’s stock valued at $88,775,000 after purchasing an additional 515,314 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CleanSpark by 119.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,757,431 shares of the company’s stock valued at $19,384,000 after purchasing an additional 957,372 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of CleanSpark by 11.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,611 shares of the company’s stock valued at $15,217,000 after purchasing an additional 142,078 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of CleanSpark by 27.8% in the 4th quarter. Swiss National Bank now owns 300,800 shares of the company’s stock valued at $3,318,000 after purchasing an additional 65,400 shares during the last quarter. 43.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLSK has been the subject of several analyst reports. Chardan Capital reaffirmed a “buy” rating and set a $26.00 price objective on shares of CleanSpark in a research note on Monday, May 13th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of CleanSpark in a research note on Friday, June 28th. BTIG Research upped their price objective on CleanSpark from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price objective on CleanSpark from $15.00 to $12.50 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald upped their price objective on CleanSpark from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, CleanSpark currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.13.

Check Out Our Latest Report on CleanSpark

CleanSpark Trading Down 0.6 %

NASDAQ CLSK opened at $16.05 on Friday. The business’s 50 day moving average is $16.87 and its two-hundred day moving average is $15.25. CleanSpark, Inc. has a 12-month low of $3.38 and a 12-month high of $24.72.

CleanSpark (NASDAQ:CLSKGet Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business had revenue of $111.80 million for the quarter, compared to analysts’ expectations of $111.11 million. CleanSpark had a negative return on equity of 6.30% and a net margin of 22.41%. Research analysts anticipate that CleanSpark, Inc. will post -0.09 earnings per share for the current year.

CleanSpark Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for CleanSpark (NASDAQ:CLSK)

Receive News & Ratings for CleanSpark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CleanSpark and related companies with MarketBeat.com's FREE daily email newsletter.