Farther Finance Advisors LLC Has $177,000 Position in Cleanspark, Inc. (NASDAQ:CLSK)

Farther Finance Advisors LLC grew its holdings in Cleanspark, Inc. (NASDAQ:CLSK) by 93.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,306 shares of the company’s stock after purchasing an additional 12,706 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cleanspark were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Cleanspark by 2.6% during the 4th 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 in the last quarter. Geode Capital Management LLC raised its stake in Cleanspark by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 6,517,268 shares of the company’s stock worth $60,037,000 after buying an additional 353,807 shares during the period. Invesco Ltd. boosted its holdings in Cleanspark by 44.2% in the fourth quarter. Invesco Ltd. now owns 2,984,362 shares of the company’s stock worth $27,486,000 after acquiring an additional 914,279 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cleanspark by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,464,861 shares of the company’s stock worth $22,701,000 after acquiring an additional 270,026 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Cleanspark by 7.2% in the fourth quarter. Northern Trust Corp now owns 2,419,057 shares of the company’s stock valued at $22,280,000 after acquiring an additional 163,282 shares during the period. 43.12% of the stock is owned by institutional investors and hedge funds.

Cleanspark Trading Up 3.1%

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. Cleanspark, Inc. has a 1-year low of $6.45 and a 1-year high of $20.64. The stock has a 50-day moving average of $8.96 and a 200-day moving average of $9.52.

Cleanspark (NASDAQ:CLSK) last announced its quarterly 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). The firm had revenue of $181.71 million during the quarter, compared to the consensus estimate of $196.43 million. Cleanspark had a negative return on equity of 4.65% and a negative net margin of 35.43%. Cleanspark’s revenue was up 62.5% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. As a group, equities research analysts forecast that Cleanspark, Inc. will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cleanspark news, Director Amanda Cavaleri sold 13,000 shares of Cleanspark stock in a transaction on Monday, March 24th. The stock was sold at an average price of $7.97, for a total transaction of $103,610.00. Following the completion of the transaction, the director now owns 140,289 shares in the company, valued at approximately $1,118,103.33. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roger Paul Beynon sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $10.51, for a total transaction of $525,500.00. Following the sale, the director now owns 125,511 shares in the company, valued at approximately $1,319,120.61. The trade was a 28.49% decrease in their position. The disclosure for this sale can be found here. 2.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

CLSK has been the topic of several research reports. BTIG Research restated a “buy” rating on shares of Cleanspark in a report on Friday, June 13th. JPMorgan Chase & Co. upped their target price on shares of Cleanspark from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. Finally, Chardan Capital assumed coverage on shares of Cleanspark in a research report on Wednesday, May 21st. They issued a “buy” rating and a $20.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company 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.