CX Institutional Invests $26,000 in Cleanspark, Inc. (NASDAQ:CLSK)

CX Institutional bought a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,840 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Cleanspark by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 19,655,746 shares of the company’s stock worth $181,029,000 after purchasing an additional 495,367 shares during the period. Geode Capital Management LLC grew its stake in shares of Cleanspark by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock worth $60,037,000 after purchasing an additional 353,807 shares during the period. Invesco Ltd. grew its stake in shares of Cleanspark by 44.2% during the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after purchasing an additional 914,279 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cleanspark by 12.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock worth $22,701,000 after purchasing an additional 270,026 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Cleanspark by 7.2% during the fourth quarter. Northern Trust Corp now owns 2,419,057 shares of the company’s stock worth $22,280,000 after purchasing an additional 163,282 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLSK. BTIG Research reaffirmed a “buy” rating on shares of Cleanspark in a research note on Friday, June 13th. Chardan Capital began coverage on Cleanspark in a research note on Wednesday, May 21st. They set a “buy” rating and a $20.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Cleanspark from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, June 13th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $21.00.

Insider Buying and Selling at Cleanspark

In other news, Director Roger Paul Beynon sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total value of $525,500.00. Following the sale, the director now directly owns 125,511 shares in the company, valued at $1,319,120.61. The trade was a 28.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amanda Cavaleri sold 13,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $7.97, for a total value of $103,610.00. Following the completion of the sale, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. This trade represents a 8.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.65% of the company’s stock.

Cleanspark Trading Up 3.1%

NASDAQ:CLSK opened at $9.18 on Thursday. Cleanspark, Inc. has a 1 year low of $6.45 and a 1 year high of $20.64. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -9.56 and a beta of 4.23. The stock has a 50-day moving average price of $8.92 and a two-hundred day moving average price of $9.56.

Cleanspark (NASDAQ:CLSK) last posted its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). Cleanspark had a negative net margin of 35.43% and a negative return on equity of 4.65%. The business had revenue of $181.71 million during the quarter, compared to analyst estimates of $196.43 million. During the same period in the previous year, the firm posted $0.59 earnings per share. The firm’s revenue was up 62.5% on a year-over-year basis. Sell-side analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current year.

Cleanspark Company 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.