Teacher Retirement System of Texas Buys Shares of 42,402 Cleanspark, Inc. (NASDAQ:CLSK)

Teacher Retirement System of Texas bought a new stake in shares of Cleanspark, Inc. (NASDAQ:CLSK) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 42,402 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in shares of Cleanspark during the 4th quarter worth about $338,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Cleanspark by 68.6% during the 4th 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 purchasing an additional 114,674 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Cleanspark during the 4th quarter worth about $734,000. Algert Global LLC boosted its stake in shares of Cleanspark by 284.1% during the 4th quarter. Algert Global LLC now owns 198,862 shares of the company’s stock worth $1,832,000 after purchasing an additional 147,086 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Cleanspark by 27.7% during the 4th quarter. Ameriprise Financial Inc. now owns 291,391 shares of the company’s stock worth $2,684,000 after purchasing an additional 63,123 shares during the last quarter. 43.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CLSK has been the topic of several research analyst reports. Chardan Capital reissued a “buy” rating and issued a $20.00 target price on shares of Cleanspark in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised their target price on shares of Cleanspark from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, June 13th. B. Riley initiated coverage on shares of Cleanspark in a research report on Tuesday, July 1st. They issued a “buy” rating and a $16.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating on shares of Cleanspark in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cleanspark presently has a consensus rating of “Buy” and a consensus price target of $20.38.

Cleanspark Trading Down 1.5%

Shares of Cleanspark stock opened at $12.78 on Friday. The company’s 50-day moving average price is $10.37 and its two-hundred day moving average price is $9.48. Cleanspark, Inc. has a 52 week low of $6.45 and a 52 week high of $19.04. The stock has a market cap of $3.59 billion, a PE ratio of -13.31 and a beta of 4.23.

Cleanspark (NASDAQ:CLSK) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) 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 firm had revenue of $181.71 million for the quarter, compared to analysts’ expectations of $196.43 million. During the same period in the prior year, the company posted $0.59 earnings per share. Cleanspark’s quarterly revenue was up 62.5% compared to the same quarter last year. On average, equities analysts predict that Cleanspark, Inc. will post 0.58 EPS for the current fiscal year.

Insider Activity

In other news, 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 value of $525,500.00. Following the completion of the sale, the director directly owned 125,511 shares of the company’s stock, valued at $1,319,120.61. This represents a 28.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.65% of the stock is owned by company 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.