State of Alaska Department of Revenue Makes New $1.04 Million Investment in Cleanspark, Inc. (NASDAQ:CLSK)

State of Alaska Department of Revenue purchased a new position in shares of Cleanspark, Inc. (NASDAQ:CLSK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 154,036 shares of the company’s stock, valued at approximately $1,035,000. State of Alaska Department of Revenue owned 0.05% of Cleanspark as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CLSK. Virtu Financial LLC purchased a new stake in Cleanspark during the fourth quarter worth $338,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Cleanspark by 68.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 281,783 shares of the company’s stock worth $2,595,000 after acquiring an additional 114,674 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Cleanspark in the fourth quarter worth $734,000. Algert Global LLC raised its holdings in shares of Cleanspark by 284.1% in the fourth quarter. Algert Global LLC now owns 198,862 shares of the company’s stock worth $1,832,000 after acquiring an additional 147,086 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Cleanspark by 27.7% in the fourth quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company’s stock worth $2,684,000 after acquiring an additional 63,123 shares during the last quarter. Institutional investors and hedge funds own 43.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLSK. BTIG Research reissued a “buy” rating on shares of Cleanspark in a report on Friday, June 13th. JPMorgan Chase & Co. boosted their price target on Cleanspark from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, June 13th. Finally, Chardan Capital reissued a “buy” rating and issued a $20.00 price target on shares of Cleanspark in a report on Wednesday. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.00.

Cleanspark Trading Up 2.0%

Cleanspark stock opened at $10.81 on Friday. The firm has a market capitalization of $3.04 billion, a P/E ratio of -11.26 and a beta of 4.23. The stock has a fifty day moving average price of $9.20 and a 200 day moving average price of $9.37. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $20.49.

Cleanspark (NASDAQ:CLSK) last released its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). The business had revenue of $181.71 million during 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 business’s revenue for the quarter was up 62.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, equities analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current year.

Insiders Place Their Bets

In other Cleanspark news, Director Roger Paul Beynon sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $10.51, for a total transaction of $525,500.00. Following the completion of the sale, the director now directly owns 125,511 shares in the company, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.65% of the stock is currently owned by insiders.

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.