102,525 Shares in Cleanspark, Inc. (NASDAQ:CLSK) Purchased by Yousif Capital Management LLC

Yousif Capital Management LLC acquired a new stake in Cleanspark, Inc. (NASDAQ:CLSK) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 102,525 shares of the company’s stock, valued at approximately $689,000.

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Cleanspark by 60.0% in the 4th quarter. Russell Investments Group Ltd. now owns 5,859 shares of the company’s stock valued at $54,000 after acquiring an additional 2,196 shares during the period. GAMMA Investing LLC grew its holdings in Cleanspark by 207.8% in the 1st quarter. GAMMA Investing LLC now owns 12,163 shares of the company’s stock valued at $82,000 after buying an additional 8,212 shares in the last quarter. Truefg LLC purchased a new position in Cleanspark during the first quarter worth about $84,000. Farringdon Capital Ltd. acquired a new stake in Cleanspark during the fourth quarter worth $105,000. Finally, Haven Private LLC purchased a new position in Cleanspark during the fourth quarter worth about $108,000. Hedge funds and other institutional investors own 43.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the transaction, the director now owns 125,511 shares of the company’s stock, valued at approximately $1,319,120.61. This trade represents a 28.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amanda Cavaleri sold 13,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total value of $103,610.00. Following the transaction, the director now owns 140,289 shares in the company, valued at $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. 2.65% of the stock is currently owned by company insiders.

Cleanspark Price Performance

NASDAQ:CLSK opened at $9.18 on Friday. The firm has a market cap of $2.58 billion, a PE ratio of -9.56 and a beta of 4.23. The firm has a 50 day simple moving average of $8.96 and a 200-day simple moving average of $9.52. Cleanspark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64.

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

Analyst Ratings Changes

CLSK has been the topic of a number of recent research reports. Chardan Capital initiated coverage on shares of Cleanspark in a research note on Wednesday, May 21st. They set a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Cleanspark from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, June 13th. Finally, BTIG Research reiterated a “buy” rating on shares of Cleanspark in a research note on Friday, June 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $21.00.

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.